US PPI comes in cooler than expected in December
By Iain Gilbert
Date: Tuesday 14 Jan 2025
(Sharecast News) - US wholesale inflation rose less than expected in December, according to the Bureau of Labor Statistics, principally due to heightened energy prices throughout the month.
December's producer price index increased by 0.2% last month, down from the previous month's 0.4% increase. On an annualised basis, producer prices were up 3.3% year-on-year, down from 3.4% in November.
The index for final demand services was unchanged, while final demand goods prices climbed 0.6% on a monthly basis.
When stripping out volatile foods, energy, and trade services, PPI was up by 0.1% in December and 3.3% year-on-year.
Attention now turns to tomorrow's consumer price index, set for release on Wednesday, with economists expecting to see a 0.3% month-on-month increase and a 2.8% year-on-year jump.
Reporting by Iain Gilbert at Sharecast.com
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