The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in May on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.1 percent before seasonal adjustment.
The seasonally adjusted increase in the all items index, which was the largest since February 2013, was broad-based. The indexes for shelter, electricity, food, airline fares, and gasoline were among those that contributed. The food index posted its largest increase since August 2011, with the index for food at home rising 0.7 percent. The increases in the electricity and gasoline indexes led to a 0.9 percent rise in the energy index.
No, you’re not imagining it.
And since the CPI grossly (and intentionally) understates your actual cost of living, well, you’re really feeling it.
Electricity was one of the big contributors this time around, up 4.1% on the month. And remember, Obama’s intent with shutting down coal-fired power plants is to make power more expensive. It’s already happening and his “executive” actions will (grossly) fuel this trend.
Airline fares were also up an enormous 7.4% — on the month. Good thing I refuse to fly with The Sexual Assault.
Meats in general were up big; bacon being a big contributor. That sucks; everyone should eat lots of carbs for breakfast and leave all the bacon for me! The only respite was in eggs, which were down on the month (but up huge annualized.)
Thank Obama — especially on the electricity.