KANSAS CITY, Kan. – Area prices were up 1.5 percent over the past month, up 8.8 percent from a year ago.
Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 1.5 percent in May, the U.S. Bureau of Labor Statistics reported today.
The food index rose 1.3 percent in May and the index for energy increased 8.6 percent. The all items less food and energy index advanced 0.8 percent due to increases in costs for shelter and public transportation. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)
Over the last 12 months, the CPI-U rose 8.8 percent. (See chart 1 and table A.) The index for all items less food and energy advanced 5.9 percent over the year. Energy prices rose 33.8 percent, largely the result of an increase in the price of gasoline. Food prices were up 12.0 percent compared to May 2021.
Food
Food prices advanced 1.3 percent for the month of May. (See table 1.) Prices for food at home rose 1.6 percent. All six of the major grocery store food group indexes increased over the month including meats, poultry, fish, and eggs (2.1 percent) and cereals and bakery products (2.9 percent). Prices for food away from home increased 0.9 percent for the same period.
Over the year, food prices increased 12.0 percent. Prices for food at home were up 13.9 percent since a year ago. Among the grocery food categories, the index for other food at home (includes sugar, sweets, fats, and oils, for example) was up 14.1 percent and the index for meats, poultry, fish, and eggs rose 17.5 percent. Prices for food away from home rose 8.8 percent compared to May 2021.
Energy
The energy index advanced 8.6 percent over the month. The increase was mainly due to higher prices for gasoline (10.0 percent). Prices for natural gas service rose 15.3 percent, and prices for electricity increased 2.0 percent for the same period.
Energy prices were up 33.8 percent over the year, largely due to higher prices for gasoline (48.3 percent). Prices paid for natural gas service rose 38.5 percent, and prices for electricity increased 6.6 percent during the past year.
All items less food and energy
The index for all items less food and energy rose 0.8 percent in May. Higher prices for shelter (0.6 percent) and public transportation were contributing factors. Lower prices for apparel (-0.2 percent) only partially offset these increases.
Over the year, the index for all items less food and energy advanced 5.9 percent. Components contributing to the increase included shelter (5.2 percent) and new and used motor vehicles (14.5 percent).