The consumer price index jumped 0.8% in November, led by increases in energy costs, the Labor Department said Friday.
The increase followed October’s 0.3% increase. The core CPI excluding food and energy rose 0.3%, Labor said.
Economists had forecast the CPI to rise 0.6%, 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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