The Consumer Price Index (CPI) rose 8.6% in the US between June 1 2021 and May 31 2022 (12 months) as this publication of the Bureau of Labor Statistics shows. The CPI annual increase showed reacceleration. In May, the CPI increased 1.0%. This represents a significant increase of the month to month inflation compared to April 2022, which was 0.3%

The main contributor of the increase was energy. The price of energy increased 34.6% in the past 12 months and within this increase, gasoline increased 48.7 % and fuel oil 106.7% .

Regarding the month to month CPI increase, it showed an increase from 0.3% to 1.0%. There is room for more increase since the food prices are still showing an increase close to the one of CPI.

According to this website, this is the highest 12-month CPI increase since December 1981 when it was 8.922%

Previous posts regarding the inflation rate

• July 15, 2021. Inflation Peaks as CPI Rises 5.4%
• September 12, 2021. 12-Month Percent Change in CPI is 5.4% in July 2021
• September 15, 2021. 12-Month Percent Change in CPI is 5.3% in August 2021
• October 13, 2021. 12-Month Percent Change in CPI is 5.4% in September 2021
• November 10, 2021. 12-Month Percent Change in CPI is 6.2% in October 2021
• December 10, 2021. Inflation Rate at 6.8% (Annual Rate), Will it Continue to Climb?
• January 12, 2022. Inflation Rate at 7.0% (Annual Rate), it Continues to Rise
• February 10, 2022. The Consumer Price Index (CPI) rose 7.5% in the US in the last 12 months
• March 10, 2022. The Consumer Price Index (CPI) rose 7.9% in the US in the last 12 months
• April 12, 2022. The Consumer Price Index (CPI) rose 8.5% in the US in the last 12 months
• May 11, 2022. The Consumer Price Index (CPI) rose 8.3% in the US in the last 12 months

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.