Consumer Price Index Unchanged in June

July 17, 2012 8:40 AM, EDT

The consumer price index was unchanged in June following a 0.3% drop in May, the Labor Department said Tuesday.

The May 0.3% drop had been the biggest decline in three years. 

The government’s main inflation gauge matched economists' projections, Bloomberg reported.

The core CPI rate excluding food and energy rose 0.2% for a fourth straight month.

Almost 60% of the CPI covers prices consumers pay for services. If consumer prices are climbing, it could reflect an increase in demand for consumer goods, which increases the demand for trucking services.