Food, energy prices up in May as inflation hits 4.2% over past year

Beef prices fell 1.6% on a seasonally adjusted basis in May, helping limit the increase in the price of groceries to 0.1%, according to the latest Consumer Price Index. In the past year, grocery prices are up 2.7%.

Energy prices, however, continued their steady rise. The price of gas was up 7% in May and 40.5% in the past 12 months. Fuel oil prices increased 3.8% and are up 58.9% in the past year.

The overall CPI, issued by the Bureau of Labor Statistics, rose 0.5% in May, a tick below the 0.6% in April. But over the last year, the “all items index” is 4.2%, after rising 3.8% for the 12 months that ended in April. The latest 12-month figure is the highest in three years.

The decrease in beef prices came after they jumped 2.7% in April. Over the past year, beef prices are up 12.9%. The cost of ground beef fell by 1.3% after also rising 2.7% in April. Beef roasts fell 3.6% after rising 5.8% in April, and steaks went down 1.9% after being up 1.5% in April.

Also in the meat category, pork was down 0.3% and bacon prices were unchanged. In the past year, the price of “bacon, breakfast sausage, and related products” has risen 1%. Chicken prices were down 0.1% after falling 1.1% in April.

Egg prices were up for the second straight month, rising 4% in May. They were up 1.5% in April after falling 3.4% in March. In the past year, however, eggs are down 35.2%.

Milk prices rose 2.2% and are up 3.7% for the year. Butter prices fell 2.1% after rising 2.8% in April; butter is down 8% in the past year. Cheese prices dropped 2.9% and are down 6% in the past year.

Vegetable prices went up 0.5% after rising 3.9% in April; they are 11.9% higher than they were a year ago. Coffee prices went up 0.6%, smaller than the previous two months’ increases. However, coffee costs 17.5% more than it did a year ago.  

Lettuce prices jumped 16.4% after falling for two straight months. The price of the leafy vegetable is up 24.9% in the last year.

Tomato prices took a dive, falling by 6.1% in May after jumping 15.1% in April. Tomatoes cost about one-third more than they did in May 2025.

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