The consumer price index rose 0.4% in April, the Labor Department reported Tuesday.
The core CPI excluding food and energy rose 0.2%, Labor said.
The overall April increase followed March’s 0.6% gain, while core prices rose 0.1% in March.
The increase was below the 0.5% forecast by economists, Bloomberg reported. The core-price gain exceeded the projected 0.1% increase.
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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