CPI Rises 0.2% in May

The consumer price index rose 0.6% in may, the Labor Department said Friday.

The inflation gauge followed a 0.2% in March.

The core CPI, which excludes food and energy, rose 0.2%, as energy and food increases accounted for much of the increase.

Economists had forecast a 0.5% gain in the CPI, while core costs were projected to rise 0.2%, Bloomberg reported.
 
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.

 

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