U.S. Energy Inflation Accelerates in May, Labor Department Data Show

U.S. Labor Department data showed that seasonally adjusted U.S. energy inflation rose 3.9% month over month in May, up from a 3.8% increase in April. According to Jin10, energy commodities inflation increased 6.7% month over month in May versus 5.6% in April, while gasoline inflation rose 7.0% versus 5.4%, and fuel oil inflation rose 3.8% versus 5.8%. On an unadjusted basis, energy inflation increased 23.5% year over year in May, compared with a 17.9% rise in April. Unadjusted energy commodities inflation rose 40.6% year over year, gasoline inflation rose 40.5%, and fuel oil inflation rose 58.9%.