June 16, 2005
On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in May 2005, following an increase of 0.5 percent in April.
Energy costs, which advanced sharply in each of the preceding three months, declined 2.0 percent in May. Within energy, the index for petroleum-based energy decreased 4.2 percent while the index for energy services increased 0.8 percent.
The index for food rose 0.1 percent, following a 0.7-percent increase in April. The index for all items less food and energy, which was virtually unchanged in April, increased 0.1 percent in May.
During the first five months of 2005, the CPI-U rose at a 3.7-percent seasonally adjusted annual rate (SAAR). This compares with an increase of 3.3 percent for all of 2004.
For the 12 months ended in May 2005, the CPI-U rose 2.8 percent, as shown in the chart.