U.S. CPI Inflation rises 0.1% in May, lower than expected - UPI.com

June 11 (UPI) -- The Bureau of Labor Statistics reported Wednesday that U.S. inflation measured by the Consumer Price Index increased by a lower than expected 0.1% in May.

That's an annual CPI rate of 2.4% before seasonal adjustment. Higher shelter costs of 0.3% in May drove the overall increase, according to the BLS.

"The index for shelter rose 0.3% in May and was the primary factor in the all items monthly increase," the BLS said in a statement. "The food index increased 0.3% as both of its major components, the index for food at home and the index for food away from home also rose 0.3% in May. In contrast, the energy index declined 1.0% in May as the gasoline index fell over the month."

With food and energy excluded, core annual CPI inflation was 2.8%.

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