MADRID, 10 Jun. (EUROPA PRESS) –
The consumer price index (CPI) of the United States recovered again in May the upward rhythm that had slowed down in April when it stood at an interannual rate of 8.6%, which represents the largest increase in prices in the country since December 1981, according to the US Department of Labor’s Bureau of Labor Statistics.
In the month of March, prices grew at an annual rate of 8.5%, which was already the largest increase since the last month of 1981. However, the pace slowed slightly in April when the annual rate slowed down in two tenths, up to 8.3%.
The new uptick is due to the appreciation of both food and energy. The annual rate for food as a whole stood at 10.1%, seven tenths more than the increase observed in April. On their side, energy prices advanced at an annual rate of 34.6%, after having slowed to 30.3% in the fourth month of the year.
In this way, by excluding the volatility of energy and food from the calculation, the year-on-year underlying inflation rate stood at 6% last May, two tenths less than in May, chaining two consecutive months of slowdown in the rate of rise.
In monthly terms, the CPI rose 1% in May, after rising 0.3% in April. The underlying rate remained unchanged with a rate of increase of 0.6%.
At the beginning of May, the Federal Open Market Committee (FOMC) of the United States Federal Reserve (Fed) raised the country’s interest rates by 50 basis points, placing them within a target range between 0.75% and 1%. This was the largest increase in the price of money since 2000.
The minutes of that meeting revealed weeks later that the majority of the Fed’s central bankers were in favor of making another two new hikes of 50 basis points at the meetings in June and July.
