The Labor Department announced on Wednesday the U.S. consumer price index (CPI) edged down 0.1 percent m-o-m in May, following an unrevised 0.8 percent m-o-m decline in the previous month.

Over the last 12 months, the CPI rose 0.1 percent y-o-y last month, following an unrevised 0.3 percent m-o-m advance in the 12 months through April. That the lowest inflation rate since September 2015.

Economists had forecast the CPI to be flat m-o-m and to increase 0.2 percent y-o-y in the 12-month period.

According to the report, declines in the indexes for motor vehicle insurance (-8.9 percent m-o-m), energy (-1.8 percent m-o-m), and apparel (-2.3 percent m-o-m) more than offset increases in food (+0.7 percent m-o-m) and shelter (+0.2 percent m-o-m) indexes to result in the monthly decrease in the seasonally adjusted all items index.

Meanwhile, the core CPI excluding volatile food and fuel costs also dropped 0.1 percent m-o-m in May after a 0.4 percent m-o-m fall in the previous month.

In the 12 months through May, the core CPI rose 1.2 percent, following a 1.4 percent advance in the 12 months ending April. That was the lowest rate since March 2011.

Economists had forecast the core CPI to be unchanged m-o-m and to rise 1.3 percent y-o-y last month.