ABJ - June 18 - The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.3 per cent in May on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index increased 1.7 per cent before seasonal adjustment.

The gasoline index declined 6.8 per cent in May, leading to a sharp decrease in the energy index and the decline in the all items index. The indexes for natural gas and fuel oil declined as well, though the electricity index increased.

The index for all items less food and energy rose 0.2 per cent in May, the third consecutive increase. The indexes contributing to the increase were largely the same ones as in April: shelter, medical care, used cars and trucks, apparel, airline fares, and new vehicles.

The 12-month change in the index for all items was 1.7 per cent in May; this figure has been declining steadily since its 3.9 per cent recent peak in September 2011. The decline has been driven mostly by the energy index, which decreased 3.9 per cent over the last 12 months. This was its first 12-month decline since October 2009. The 12-month change in the food index, which was 4.7 per cent as recently as December, fell to 2.8 per cent in May.