Fact Check: "May's consumer price increase of 1.5% is the slowest in five years."
What We Know
The claim that "May's consumer price increase of 1.5% is the slowest in five years" is based on the Consumer Price Index (CPI) data released for May 2023. According to the Consumer Price Index News Release, the CPI for All Urban Consumers (CPI-U) rose by 0.1% in May 2023, which is significantly lower than the 0.4% increase in April 2023. Year-over-year, the CPI rose 4.0% in May, down from 4.9% in April, marking the lowest yearly inflation rate since March 2021 (Comments on the May 2023 Consumer Price Index Report).
However, the claim specifically mentions a 1.5% increase, which does not align with the reported 0.1% monthly increase. The CPI data does not indicate a 1.5% increase for May, either on a monthly or yearly basis.
Analysis
The claim appears to be misleading due to the incorrect percentage cited. The actual increase in the Consumer Price Index for May 2023 was 0.1%, not 1.5%. This is corroborated by multiple sources, including the Consumer Price Index Summary and the Consumer Price Index News Release.
The statement that May's increase is the slowest in five years is also inaccurate when considering the context of the CPI's historical data. The CPI has experienced lower monthly increases in the past five years, particularly during periods of deflation or very low inflation rates. For instance, the CPI saw a 0.0% change in some months during the pandemic (Comments on the May 2023 Consumer Price Index Report).
The sources used to assess this claim are credible, primarily coming from the Bureau of Labor Statistics (BLS), which is the authoritative body for CPI data in the United States. The BLS reports are widely recognized for their accuracy and reliability.
Conclusion
Verdict: False
The claim that "May's consumer price increase of 1.5% is the slowest in five years" is incorrect. The actual increase was 0.1%, which is significantly lower than the figure stated in the claim. Furthermore, the context of historical CPI data indicates that lower increases have occurred in the past, making the assertion misleading.
Sources
- Consumer Price Index Summary - 2025 M05 Results
- Consumer Price Index News Release - 2023 M05 Results
- Comments on the May 2023 Consumer Price Index Report
- Consumer Price Index News Release - 2025 M05 Results
- Consumer price inflation, UK: May 2023
- Progress lowering US consumer inflation stalling; rate cut ...
- In January 2023, consumer prices increased by 6.0% year on year ...
- United States Inflation Rate