Consumer Price Index Falls for First Time in a Year
The consumer price index decreased 0.2% in June, the first decline in a year, the Labor Department said Friday.
The drop in the government’s main inflation gauge compared to a 0.1% decrease predicted by economists, Bloomberg reported.
The core CPI rate excluding food and energy rose 0.3%, the same as last month, for the largest two-month climb in three years. Economists had called for a 0.2% upturn.
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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