Consumer Price Index Dips 0.1% in October

The consumer price index declined 0.1% in October, the first decrease in four months, the Labor Department said Wednesday.

Economists had projected no change in the government’s main inflation gauge, Bloomberg reported.

The core CPI rate excluding food and energy rose 0.1%, matching September as the smallest increase this year, Bloomberg said.

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.