(AURN News) — Inflation barely moved in May — but for millions of Americans, the essentials are still getting harder to afford.
The Consumer Price Index rose just 0.1 percent last month, the U.S. Bureau of Labor Statistics reported Wednesday. And a closer look reveals that key necessities like rent, groceries, and medical care are still rising at a pace that keeps working families under pressure.
Shelter costs, which make up a third of the overall index, jumped another 0.3 percent in May and are up 3.9 percent from a year ago. Rents for primary residences rose 0.2 percent in the month and have surged 3.8 percent over the past 12 months.
Food prices also crept up 0.3 percent in May, with grocery staples like cereals, bakery items, and vegetables leading the increase. Eating out wasn’t much better: full-service and limited-service meals both rose 0.3 percent. Over the past year, dining out has gotten nearly 4 percent more expensive.
Many workers are still grappling with rising essentials while wage growth remains tepid, especially in marginalized communities. Even as energy prices dipped — driven by a 2.6 percent drop in gas prices — those savings aren’t enough to offset climbing everyday costs for housing, food, and medical needs.
The report also showed:
Medical care rose 0.3 percent last month, with hospital services up 0.4 percent and prescription drugs increasing 0.6 percent.
Motor vehicle insurance jumped 0.7 percent in May and is up a staggering 7.0 percent over the year.
Apparel, airline fares, and used car prices all declined, but those savings do little for families focused on rent and groceries.
Overall, consumer prices have climbed 2.4 percent in the past year. The index excluding food and energy — a metric closely watched by policymakers — rose 2.8 percent year over year.
President Donald Trump calls it a strong economy. But for many Americans — especially in Black and working-class communities — it doesn’t feel that way.
Click play to listen to the AURN News report from Jamie Jackson:
The post Inflation Is Up — So Is Rent and Food appeared first on American Urban Radio Networks.
