CPI Rises 0.2%; First Jump in Four Months

February 20, 2002 10:30 AM, EST

U.S. consumer prices rose 0.2% in January, the first increase in four months, the Labor Department reported Wednesday.

A rise in consumer prices may reflect an increase in demand for consumer goods, which could increase demand for trucking services.

However, the low rate of increase indicates little or no inflation in the economy, Bloomberg said.

The current rise was led by higher costs for food, energy and medical care, Bloomberg reported, and analysts said businesses have no ability to raise prices in the current economy at all.

Energy costs that had tumbled during the final three months of 2001 rose 0.9% in January while food prices were up 0.3% after a flat reading in December.

But, excluding food and energy, the so-called core rate of prices was ahead 0.2% last month after a 0.1% rise in December.

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