Consumer price inflation in the U.S. slowed to 1.9% year over year in May. The Core CPI, which excludes Food and Energy components, has increased only 1.7% from a year ago. Food prices are up 0.9% year over year while Energy prices have risen 5.4%.

Median CPI, which measures the median price change of all the items in the total index, has increased 2.3% year over year, quite a bit faster rate than the Core CPI. The Trimmed Mean CPI, which excludes the highest and lowest 8% of items in the basket, has risen 1.9%.

Core Services prices have tended to outpace growth in the Core CPI while Core Goods prices have typically lagged.