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The U.S. Labor Department released consumer price inflation data on Thursday. The U.S. consumer price inflation rose 0.4% in May, missing expectations for a 0.5% increase, after a 0.1% gain in April. It was the largest rise since February 2013.
The increase was driven by higher gasoline prices, which jumped 10.4% in May, the biggest gain since June 2009.
On a yearly basis, the U.S. consumer price index increased to 0.0% in May from -0.2% in April, in line with expectations.
The U.S. consumer price inflation excluding food and energy gained 0.1% in May, missing expectations for a 0.2% increase, after a 0.3% rise in April.
On a yearly basis, the U.S. consumer price index excluding food and energy remained fell to 1.7% in May from 1.8% in April. Analysts had expected the index to remain unchanged at 1.8%.
Food prices remained unchanged in May, while shelter costs rose 0.2%.
The medical care index climbed 0.2% in May.
Energy costs rose 4.3% in May.
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