The consumer price index rose 0.3% in December and the CPI for the full year was 4.1%, the highest level since 1990, the Labor Department said Wednesday.
The December increase followed a 0.8% jump in November. The core CPI for December, which excludes food and energy, rose 0.2%.
Economists had forecast the December CPI to rise by 0.2%, 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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