For Current And Historical Material In This — 2003-06-17

The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.2 percent in May, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The May level of 183.5 (1982-84=100) was 2.1 percent higher than in May 2002. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) decreased 0.2 percent in May, prior to seasonal adjustment. The May level of 179.4 was 2.0 percent higher than in May 2002. On a seasonally adjusted basis, the CPI-U was unchanged in May, following a 0.3 percent decline in April. Energy costs, which rose sharply in each of the first three months of the year, declined sharply for the second consecutive month--down 3.1 percent in May. Within energy, the index for petroleum-based energy declined 6.7 percent, while the index for energy services increased 0.5 percent. The index for food rose 0.3 percent, following a 0.1 percent decrease in April.