For Current And Historical Material In This — 1999-06-16

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in May, before seasonal adjustment, remaining at a level of 166.2 (1982-84=100), the Bureau of Labor Statistics of the U.S. Department of Labor reported today. For the 12-month period ended in May, the CPI-U increased 2.1 percent. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose 0.1 percent in May, prior to seasonal adjustment. The May level of 162.8 was 2.1 percent higher than the index in May 1998. On a seasonally adjusted basis, the CPI-U was unchanged in May, following a 0.7 percent rise in April. Energy costs declined 1.3 percent in May, reflecting a sharp turnaround in the index for gasoline. After advancing a record 15.0 percent in April and accounting for more than half of the overall April CPI rise, the index for gasoline declined 2.7 percent in May. The index for energy services fell 0.3 percent.