Consumer Price Index Falls in June

The consumer price index dropped 0.1% in June, the third consecutive decline, the Labor Department said Friday.

The decrease followed a 0.2% drop in May.

The core CPI, which excludes food and energy, increased 0.2%, the most since October, Bloomberg reported.

Economists had forecast both the CPI and core rate to rise 0.1%, 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.