by Robert Hughes
The American Institute for Economic Research
The AIER Everyday Price Index increased by 0.8 percent in May, the sixth consecutive gain following back-to-back decreases in October and November. The most recent rise puts the 12-month gain at 6.5 percent, the fastest pace since September 2011.
The positive contributors to the May rise were led by motor fuels prices, up 4.1 percent and contributing 43 basis points – half of the total gain, followed by household fuels and utilities (up 0.9 percent for the month and contributing 11 basis points), food away from home (up 0.6 percent for the month and contributing 10 basis points), food at home (groceries), up 0.3 percent and adding 7 basis points, and domestic services (up 6.4 percent for the month while contributing 6 basis points).