Consumer Prices Jump 0.6%, Labor Reports

.S. consumer prices rose 0.6% in April, the Labor Department reported Wednesday.

The level was more than forecast by economists, who had called for a 0.5% rise, Bloomberg reported.

The “core” consumer price index excluding food and energy rose 0.3%.

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 climbing, it could reflect an increase in demand for consumer goods, which increases the demand for trucking services.