The consumer price index rose 0.4% in November, the Labor Department said Wednesday.
The CPI increase followed a 0.3% gain in October. The so-called core CPI excluding food and energy was unchanged.
The hike was higher than economists’ forecasts of a 0.1% increase, Bloomberg reported. Energy prices jumped 4.1%.
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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