Consumer Price Index (CPI) for May, 2007

Earlier this morning, the Labor Department's Bureau of Labor Statistics released the Consumer Price Index (CPI) for May, 2007:

Predicted: +0.6%
Actual: +0.7%

Below is the CPI when food and energy are subtracted from the equation, also known as the "core CPI":

Predicted: +0.2%
Actual: +0.1%

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

The above numbers represent the seasonally-adjusted, month-to-month change in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

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The CPI for May, 2007: 207.949 (not seasonally-adjusted.)

Change from May, 2006: +2.7%

The baseline 100 score is pegged to 1982-1984 data. In other words, consumer prices have more than doubled since the early 80's.

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General categories that constitute the CPI are:

• Healthcare
• Housing
• Clothing
• Communications
• Education
• Transportation
• Food & Beverages
• Recreation
• Miscellaneous Goods & Services (grooming expenses, etc.)

Click here to view the full Labor Department report.

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