May CPI sees biggest gain in over 2 years

Washington

US consumer prices in May recorded their largest increase in more than two years as petrol prices surged, suggesting an energy-driven disinflationary trend had probably run its course.

The Labor Department said on Thursday its Consumer Price Index (CPI) rose 0.4 per cent last month after gaining 0.1 per cent in April. That was the largest increase since February 2013, and left the CPI unchanged in the 12 months through May after a 0.2 per cent yearly decline in April.