According to the Consumer Price Index for the Tampa/St. Petersburg/Clearwater area issued by the US Bureau of Labor Statistics for May 2022, area prices up 11.3 percent over the past 12 months.

The Consumer Price Index for All Urban Consumers (CPI-U) for Tampa-St. Petersburg-Clearwater rose 2.1 percent from March to May. The index for all items less food and energy increased 2.0 percent over the bi-monthly period, while the energy index increased 6.3 percent from March to May, and the food index inched up 0.1 percent. (The data used in this report are not seasonally adjusted so bi-monthly changes may reflect the impact of seasonal influences.)

The all items CPI-U advanced 11.3 percent for the 12 months ending in May. The index for all items less food and energy increased 9.9 percent over the past year. The energy and food indexes also increased over the last 12 months, up 38.4 percent and 6.6 percent, respectively (See Chart 1.)