Hardware Retailing The Industry's Source for Insights and Information
Inflation rose in May to the highest rate in three months, according to the latest Consumer Price Index released by the Bureau of Labor Statistics.
The all items index rose 4.2% for the 12 months ending May, after rising 3.8% for the 12 months ending April. The index for energy rose 3.9% in May, after rising 3.8% in April and 10.9% in March. The energy index accounted for over 60% of the monthly all items increase, driven by the conflict in Iran.
The index for shelter rose 0.3% in May and 3.4% year over year. The index for electricity rose 0.6 percent in May. Conversely, the index for natural gas decreased 0.5% over the same period.
