The U.S. Labor Department released consumer price inflation data on Thursday. The U.S. consumer price inflation rose 0.2% in May, missing expectations for a 0.3% gain, after a 0.4% increase in April.

The index was mainly driven by higher energy prices, which climbed 1.2% in May.

Shelter costs climbed 0.4% in May, medical care costs were up 0.3%, while food prices decreased 0.2%.

On a yearly basis, the U.S. consumer price index decreased to 1.0% in May from 1.1% in April. Analysts had expected the index to rise 1.1%.

The U.S. consumer price inflation excluding food and energy gained 0.2% in May, in line with expectations, after a 0.2% increase in April.

On a yearly basis, the U.S. consumer price index excluding food and energy rose to 2.2% in May from 2.1% in April, in line with forecasts.

The consumer price index is not preferred Fed's inflation measure.