(Bloomberg) -- Here are the key takeaways on the US consumer price index report for May, released Wednesday:
- Inflation accelerated again in May as the Iran war pushed up energy prices, outpacing wages for a second straight month. The consumer price index climbed 4.2% from a year earlier, the most since early 2023.
- Core CPI, which excludes food and energy, increased 0.2% from April, a touch below expectations and taking some of the sting out of the Fed debate.
- The energy index rose 3.9% in May, accounting for over 60% of the monthly all-items increase.
- But other categories saw slower gains or outright declines: Grocery prices rose 0.1%, while transportation services, health insurance and new vehicles prices fell.
- The S&P 500 opened lower while Treasuries and the dollar wavered.
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