The fires of inflation are nipping at the heels of American consumers.
The Consumer Price Index for All Urban Consumers increased 0.6% in May on a seasonally adjusted basis after rising 0.8% in April, the U.S. Bureau of Labor Statistics reported.
Over the last 12 months, the all-items index increased 5% before seasonal adjustment; this was the largest 12-month increase since a 5.4 increase for the period ending August 2008, according to the report.
Higher costs for used cars and home furnishings led to inflationary pressures, according to the report.
The consumer price index for fruits and vegetables was unchanged in May after rising in each of the last three months, according to the report. The index for fresh vegetables rose 0.5% in May, but the index for fresh fruits declined 0.3%.
The food at home index increased 0.7% over the past 12 months. Five of the six major grocery store food group indexes increased, but the index for fruits and vegetables was the only one to rise more than 0.6%; it increased 2.9%.
