Consumer Price Index Rises 0.6% in March

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rices paid by consumers rose 0.6% in March, with the so-called “core” consumer price index, which excludes food and energy, rising 0.4%, the Labor Department reported Wednesday.

The numbers were greater than analysts’ forecasts for the CPI to rise 0.5% and the core index to rise 0.2%, Bloomberg reported.

The increase followed a 0.4% CPI gain in February. The core rate's rise was the fifth straight, Labor said.

The CPI is the government's broadest gauge of costs for goods and services. Almost 60% of the CPI covers prices consumers pay for services. If consumer prices are falling, it could reflect a decrease in demand for consumer goods, which decreases the demand for trucking services.

Year-over-year prices rose 3.1%, compared with 3% in February. Workers’ weekly earnings adjusted for inflation fell 0.3% in March, the second straight drop.

Energy prices rose 4% in March following a 2% rise in February, and were up 12.4% from a year ago. Gasoline prices increased 7.9%, the most since October, and were up 17% from a year ago.

ood prices rose 0.2%, services rose 0.4% and new car prices fell 0.4%, Labor said.