Consumer Price Index Rises 0.3%

The consumer price index rose by 0.3% for a second straight month in August, the Labor Department said Friday.

July’s increase in the government’s main inflation gauge had been the first gain in four months and the biggest in a year.

The core CPI rate excluding food and energy was unchanged.

The gain was within the range of economists’ estimates, while the core rate was projected to rise 0.1%, Bloomberg reported.

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.