Consumer Price Index Rises in January

The consumer price index rose 0.2% in January as energy and food prices increased, the Labor Department said Friday.

Economists had projected a 0.3% increase in the government’s main inflation gauge, Bloomberg reported.

The reading was unchanged in December.

The core CPI rate excluding food and energy also increased 0.2%, 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.