Consumer Prices Rise 0.1% in June

A report by the U.S. Department of Labor Friday showed that consumer prices were 0.1% higher during June than in May, a sign that inflation remains in check.

The consumer price index is one of the most watched indications of inflation, which can have a strong impact on the cost of trucking.

The index was unchanged in May.

The so-called “core” CPI also rose 0.1% during June. The core rate excludes the prices of the volatile food and energy sectors.

Bloomberg said that analysts had expected the CPI to rise 0.1% in June and the “core” CPI to increase 0.2%.

Economists told Bloomberg since the report again showed that inflation was not a risk to the economy at this time, the Federal Reserve Open Market Committee can to leave interest rates at their current 40-year lows in the hopes of guiding the recovery.

Labor said U.S. consumers paid more for medical care and tobacco products in June, but less for vehicles and clothes. Overall energy prices were unchanged, but gasoline prices rose 0.4%.

Compared to 2001, consumer prices were 1.1% higher in June this year than last, the report said.