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Midwest consumer price index relatively flat in May

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The Midwest Consumer Price Index barely moved in May, increasing 0.1 percent from April according to data released Thursday.

The index for May was 207.99. The CPI is built on a base period of 1982-1984, meaning that a basket of items that cost $100 during that period cost $207.99 last month, according to the index.

Food price increases had the biggest impact on the index in May, increasing 0.4 percent from the month before after no increase the previous two months. The energy index also increased 0.4 percent, due mostly to higher prices for electricity and motor fuel.

The index for all items, except food and energy, was unchanged for the month. In that group, prices for apparel, new vehicles and owner's equivalent rent of residences recorded price declines, which offset increases in categories such as used cars and trucks.

The U.S. Bureau of Labor Statistics, which compiles the CPI, cautions that regional data are not adjusted for seasonal variation, so consumers and businesses should be careful in drawing conclusions about long-term price trends from short-term changes in the regional indices.[[In-content Ad]]


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