The consumer price index fell for the first time in more than a year, declining 0.1% in April, the Labor Department said Wednesday.
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The decline was the first since March 2009.
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The core CPI, which excludes food and energy, was unchanged, capping the smallest 12-month gain in 40 years, Bloomberg reported.
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Economists had forecast CPI and core rate increases of 0.1%, Bloomberg said.
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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.
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If consumer prices are climbing, it could reflect an increase in demand for consumer goods, which increases the demand for trucking services.