Energy prices saw the biggest one year jump since 2005 last month amid a hotter than expected inflation print.
The energy index rose 3.9% last month according to the Bureau of Labor Statistics’ Consumer Price Index (CPI) published Friday after a 2.7% decline in April. Gasoline, fuel oil and natural gas prices all increased in May.
Gasoline prices rose 4.1% month-over-month, fuel oil spiked 16.9% from the prior month, and natural gas also rose 8% during the same span.
The energy index rose 34.6%…
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