Consumer Price Index Falls 0.3% in First Drop Since May
The consumer price index fell 0.3% in November, the first drop since May, the Labor Department said Friday.
The decrease follows a 0.1% gain the prior month.
Economists had forecast a 0.2% drop in the government’s main inflation gauge, Bloomberg reported.
The core CPI rate, which excludes food and energy, rose 0.1%.
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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