(Reuters) – U.S. producer price growth (PPI) rose year-on-year in January at a faster pace than expected, statistics released by the Labor Department on Friday showed.
The latter announced that the PPI had reached +0.9% on an annual basis last month after a gain of 1.0% in December. Over one month, prices increased by 0.3%, after a contraction of 0.1% the previous month.
Economists polled by Reuters forecast an increase of 0.1% monthly and 0.6% annually on average.
The producer price index excluding energy, food and commercial services increased by 0.5% over one month in January and increased by 2% over 12 months.
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The consensus expected 0.1% over one month and 1.6% over one year.
(Written by Corentin Chappron, edited by Jean-Stéphane Brosse)
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