Consumer Price Index Increases 0.1%

The consumer price index gained 0.1% in May and declined over the past year by the biggest amount since 1950, the Labor Department said Wednesday.

The so-called core CPI, which excludes food and energy, also rose 0.1%.

The index, which is the government’s main gauge of inflation, rose less than economists’ forecasts of 0.3%, Bloomberg reported.

In the 12 months ended in May prices fell 1.3%, 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.