The Bureau of Labor Statistics (BLS) recently released May 2012 figures for the Consumer Price Index, a common measure of inflation. The Chicago Metro Area Consumer Price Index for All Urban Consumers (CPI-U) decreased slightly from last month to 222.26, meaning goods and services that cost $100.00 in the 1982-84 base period cost an additional $122.26 in May 2012. The latest figure represents a 1.0% increase over last May before seasonal adjustment.
The following chart illustrates the year-over-year percent change in Consumer Price Index for All Urban Consumers (CPI-U), before seasonal adjustment, for all US cities, the Chicago metro area and large domestic cities (1.5+ million population) over the last two years. In May, the Chicago metro’s annualized rate of change remained below rates for all cities and large cities.
Source: U.S. Bureau of Labor Statistics
The full press release can be found on the BLS website.