May 2022 CPI-U up 0.5% for NY-Newark-Jersey City area

On Friday, June 10, 2022, the U.S. Bureau of Labor Statistics released the Consumer Price Index for All Urban Consumers (CPI-U). According to the press release, prices in the New York-Newark-Jersey City area rose 0.5% in May 2022, about 44.4% lower than the 0.9% increase in April. Higher energy prices were primarily accountable for the increase. In comparison to May 2021, CPI-U advanced 6.3% — the index for all items less food and energy increased 3.6%; food prices rose 9.6%; and energy prices rose more sharply by 37.5%, led by higher gasoline prices.