May 2025 Inflation Report: CPI, Input Prices, Utility Costs—What’s Next?
- The Vara Group
- 1 day ago
- 1 min read
The May 2025 Inflation Report shows CPI rose just 0.2% in April while Core CPI held steady at 2.8%—but leading indicators are flashing yellow. The ISM Prices Paid Index reached its highest level since June 2022, and utility costs rose 6.2% year-over-year, weighing heavily on property operations.
As upstream pressures build and cost volatility continues, CRE investors and operators should be prepared for shifting expense dynamics across the months ahead.

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