Midwest CPI rises in May on fuel spike

The Midwest Consumer Price Index rose 0.4 percent in May from April, led by higher motor fuel prices.

The index was 224.73 last month, according to a U.S. Bureau of Labor Statistics news release.

The CPI – which reflects price changes for energy, food and all other items – is measured in comparison to a base period of 1982-84. A typical market basket of goods and services that cost $100 in 1982-84 cost $224.73 last month. The index is not seasonally adjusted, and items are weighted based on their spending significance in certain areas, according to the BLS.

Motor fuel prices jumped 8.5 percent in May, leading an overall energy index advance of 4.3 percent. Electricity costs rose 1.4 percent and piped utilities gas services were up 1.8 percent, according to the release.

The index for all other items ticked up 0.1 percent, led by price increases in used cars and trucks, up 0.7 percent, and shelter, 0.2 percent. Offsetting those increases were drops in apparel, down 0.9 percent, and education and communication, 0.3 percent.

The food index edged down 0.1 percent in May, with little movement in costs for food at and away from home, the release said.

Compared to May 2014, last month’s Midwest CPI was down 0.8 percent.