November CPI Rises 0.4%

The consumer price index rose 0.4% in November, the Labor Department said Wednesday.

The CPI increase followed a 0.3% gain in October. The so-called core CPI excluding food and energy was unchanged.

The hike was higher than economists’ forecasts of a 0.1% increase, Bloomberg reported. Energy prices jumped 4.1%.

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.