Economic Buzz: US Producer Price Index Gains Marginally

14 Jan 2022 , 08:57 AM

The US Labor Department released a report on Thursday showing a slight uptick in US producer prices in the month of December. The Labor Department said its producer price index for final demand edged up by 0.2% in December after jumping by an upwardly revised 1% in November. The uptick in produce prices came as a 0.5% rise increase in prices for services was partly offset by a 0.4% fall in prices for goods. Excluding food, energy and trade prices, core producer prices rose by 0.4% in December after climbing by 0.8% in November. The annual rate of producer growth slowed to 9.7% in December from a record high 9.8% in November. The yearly core price growth was unchanged at 6.9%.

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