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As on: Sep 26, 2020 09:23 PM
Economic Buzz: US Producer Prices Inch Up In December
16-Jan-20   09:19 Hrs IST

US producer prices showed a modest increase in the month of December, a report released by the Labor Department on Wednesday showed. The Labor Department said its producer price index for final demand inched up by 0.1 percent in December after coming in unchanged in November. The uptick in producer prices was partly due to a jump in energy prices, which surged up by 1.5 percent in December after climbing by 0.6 percent in November. Meanwhile, the report said food prices edged down by 0.2 percent in December after spiking by 1.1 percent in November and by 1.3 percent in October. Excluding food and energy prices, core producer prices still crept up by 0.1 percent in December after dipping by 0.2 percent in November. Core prices were also expected to increase by 0.2 percent.

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