Food price increases also accelerated as concerns grew about the ability to get Ukraine’s wheat harvest to market. Excluding volatile food and energy categories, prices were up 6% in May from a year ago. Price increases were broad-based in May, which could be a sign that inflation is becoming entrenched in the U.S. economy. Below are some of the categories that recorded significant price increases and ones where price increases cooled. Gasoline prices rose 4.1% in May from the previous month, following a 6.1% decline in April.

Source: Wall Street Journal June 10, 2022 23:11 UTC