Inflation watch

The federal government releases the consumer price index for May today. The CPI is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

The index rose 2.5 percent in April from the year before, marking the sharpest year-over-year increase in 14 months. Excluding the volatile food and energy categories, core prices ticked up just 0.1 percent in April, a sign that inflation remains mild.