Consumer Prices Surge

At the fastest pace in 20 months, consumer prices rose in May. This was fueled by another big rise for gas and also, an increase in food prices, as well. However, prices for cars, airline tickets, clothes, and computers all fell. An increase of 0.7 percent was posted by the Consumer Price Index. This was the biggest one month gain since the fall of 2005 after Hurricane Katrina shut down Gulf Coast oil production and energy prices surged. If you exclude food and energy, the increase for so-called inflation was just 0.1 percent,