May CPI Data: 13 Things to Know as Inflation Hits a 40-Year High

  • The May Consumer Price Index (CPI) isn't exciting for consumers today.
  • That's due to inflation being higher than expected.
  • This is also having a negative effect on the stock market.
May CPI Data - May CPI Data: 13 Things to Know as Inflation Hits a 40-Year High

Source: Shutterstock

The May Consumer Price Index (CPI) data is here and it brings with it higher inflation than what experts were expecting.

Let’s go over the details of that May CPI data below!

  • According to the report, inflation increased by 8.6% during May 2022 compared to the same time last year.
  • That’s worse than the 8.3% increase in inflation that experts were predicting.
  • For comparison, inflation in April was sitting at 8.3%.
  • Shelter, gasoline, and food were the top contributing factors to inflation in May.
  • This saw the price of shelter increase 0.6% from April.
  • The price of gasoline saw the biggest jump with a 4.1% increase, compared to the previous month.
  • Finally, the price of food increased by 1.2% since April.
  • The massive increase in inflation in May represents the largest seen in the last 40 years.
  • This is also affecting workers with the price of real wages decreasing by 0.6% from April.
  • Extending that out over the last year shows the price of real wages has dropped 3%.
  • This news if having a negative effect on the stock market today.
  • That’s due to experts predicting more extreme efforts from the Federal Reserve to try and combat inflation.
  • This means investors will likely see more increases in interest rates at the next Fed meeting.

There’s more stock market news that investors will want to read about below!

We’ve got all the hottest stock news traders need to catch up on for Friday! That includes what’s happening with Stitch Fix (NASDAQ:SFIX), Netflix (NASDAQ:NFLX), and Rise Education (NASDAQ:REDU) stock today. You can read up on these matters at the links below!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/06/may-cpi-data-13-things-to-know-as-inflation-hits-a-40-year-high/.

©2022 InvestorPlace Media, LLC