Energy prices (gasoline, crude oil, electricity and gas) increased by 34.6% in the last twelve months, driven by the price of crude oil, which rose by 106.7%, the largest increase since data are available.
The rate of Inflation in the United States climbed in May to 8.6%three tenths above that of April and the highest in forty years, reported this Friday the Bureau of Labor Statistics.
The monthly rise in consumer prices was 1%.
Despite the fact that inflation had moderated slightly in April with its first drop in seven months, it shot up again in May until it reached its highest rate since 1981.
The rise in prices in May was driven above all by the higher energy prices and also, although to a lesser extent, due to the rise in housing and food prices.
Energy prices (gasoline, crude oil, electricity and gas) increased by 34,6% in the last twelve months, driven by the price of crude oil, which rose by 106,7%the largest increase since data was collected.
Compared to the month of April, energy prices increased by 3.9%, in contrast to the drop of 2.7% that was registered then compared to the month of March.
Food prices, for their part, rose by 10.1% in one year, especially those related to purchases at the supermarketwhich increased by 11.9%, while those of food in restaurants increased by 7.4%.
Both figures are slightly higher than the increase registered last month, which contributes to inflation growing in May at the fastest pace that has been registered in the country in the last 40 years.
If food and fuel prices, which are the most volatile, are excluded, core inflation was 6% year-on-year.
The housing pricesone of those that has the most weight in the calculation of core inflation, rose 5.5% in one year, and its monthly increase was 0.6%.