The Consumer Price Index for all Urban Consumers (CPI-U) increased .6% in May on a seasonally adjusted basis after rising .8% in April. The index for used cars and trucks continued to rise sharply, increasing 7.3% in May. This is most likely a result of computer chip shortages preventing the delivery of new cars.
Over the last 12 months, the all-items index increased 5% before seasonal adjustment, the largest 12-month increase since a 5.4% increase for the period ending August 2008. Click here for more.