Surging energy prices help drive annual cost-of-living rate rise to 4.2%.
The cost of living rose in May as consumers were belted by energy costs, the government said Friday.
The Consumer Price Index, a key inflation reading, rose 4.2% through the 12 months ended in May, according to the Labor Department. This compared to an increase of 3.9% during the 12 months ended in April.
For the month of May, overall CPI rose 0.6%, compared to an increase of 0.2% in April. That's the biggest increase since last November, when the overall CPI surged 0.9%. A consensus of analysts interviewed by Briefing.com had projected an increase of 0.5% for May.
Read Complete Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment