US Inflation rises to 2.8% in May 2018

US Inflation rises to 2.8% in May 2018

United States Inflation Rate Increases to 2.8%
Adrian Adrian

US Inflation rises to 2.8% in May 2018 hitting a 6 year high and beating the forecast of 2.7 percent.  The main reasons for the rise where increased cost of fuel oil and housing/shelter.  Which rose 25.3% for fuel oil and 21.8% for gasoline.  Shelter increased 3.5%, medical services by 2.3%.

Food, electricity and transportation services fell back slightly, dropping to 1.2 % and 1% respectively.

On a Month on Month basis, prices increased by 0.2%, which was inline with expectations.

Inflation in the US has been steadily creeping up, the previous month it hit a 14 month high and the month earlier it was the highest in a year.  Any monthly rise over the next two months will see inflation rise further and could potentially hit 3% or higher.  Oil/Gasoline is likely to be one of the deciding factors.

  • VIA
  • Adrian
  • US Bureau of Labor Statistics