The consumer price index fell in August for the first time this year in August, dipping 0.1%, the Labor Department said Wednesday.
The downturn followed July’s 0.1% increase. The core CPI excluding food and energy rose 2.1%, Labor said.
Economists had forecast no change in the CPI, Bloomberg reported. Ìý 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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