Consumer Price Index Falls in April

The consumer price index decreased for the second consecutive month, declining 0.2% in May, the Labor Department said Thursday.

The decline was the biggest since December 2008 and followed a 0.1% drop in April.

The core CPI, which excludes food and energy, increased 0.1%, Bloomberg reported.

Economists had forecast both the CPI and core rate not to change, Bloomberg said.

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.