Consumer Price Index increases slightly

93100485Seasonally adjusted, the Consumer Price Index for all urban consumers in the nation increased 0.4 percent in may after rising 0.3 percent in April, according to the U.S. Department of Labor Bureau of Labor Statistics.

Over the past 12 month, the all-items index increased 2.1 percent before seasonal adjustment.

The seasonally adjusted increase in the all-items index was the largest since February 2013, while the food index posted its largest increase since August 2011, with the index for food at home rising 0.7 percent.

For the Denver-Boulder-Greeley area, the CPI increased 2.8 percent from the second half 2012 to the second half of 2013, the latest dates released.

Information for the CPI in Colorado Springs was unavailable.

Food prices rose 0.2 percent from the second half of 2012 to the second half of 2013, considerably less than the 2.5 percent advanced I the same period one year prior.

The Consumer Price Index is a measure of the average change in prices over time in a fixed market basket of goods and services.

The BLS publishes CPIs for all urban consumers (CPI-U), which covers approximately 88 percent of the population and a CPI for urban wage earners and clerical workers (CPI-W), which covers 29 percent of the population.

The CPI-U includes, in addition to wage earners and clerical workers, groups such as professional, managerial and technical workers, the self-employed, short-term workers, the unemployed, retirees and others not in the labor force.

The CPI is based on prices of food, clothing, shelter and fuels, transportation fares, charges for doctor services, pharmaceuticals and other goods and services people buy for day-to-day living.

Each month, prices are collected from 87 urban areas from about 4,000 housing units and 26,000 retail establishments.