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The consumer price index inched up 0.1% in July, the smallest gain this year, the Labor Department said Wednesday.

The uptick followed a 0.2% gain in June. The July core rate, which excludes food and energy, rose 0.2%, Labor said.

The CPI increase matched economists’ forecast, Bloomberg reported.
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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.

If consumer prices are climbing, it could reflect an increase in demand for consumer goods, which increases the demand for trucking services.