Consumer prices dip in Chicago area in May
BY FRANCINE KNOWLES Business Reporter email@example.com June 14, 2012 8:54AM
Updated: June 14, 2012 10:26AM
Consumer prices slid 0.1 percent in May amid a drop in gasoline costs, while year-over-year they rose 1 percent, according to the Labor Department’s monthly index of the Chicago-Gary-Kenosha metropolitan area.
Excluding food and energy, prices rose 0.2 percent from April and were up 1.6 percent from May 2011.
Food prices were 0.2 percent higher from April and rose 3.2 percent from May 2011.
Month-over-month, the cost of eating out rose 0.3 percent, and the cost of eating in rose 0.2 percent. In the food-at-home category, grocery prices rose for milk, breakfast cereal and snacks. Prices dropped for fresh biscuits, rolls and tomatoes.
Gasoline prices fell 2.7 percent from April and 5 percent year-over-year. Prices for utility gas service dropped 6.4 percent from April and plunged 29.2 percent from May 2011.
Overall energy costs were down 2.6 percent month-over-month and dropped 7.2 percent year-over-year.