(CercleFinance.com) – Producer prices rose more than expected in January in the United States, mainly in the wake of the rebound in energy costs.
The Labor Department said Thursday that producer prices rose 0.7% last month, after falling 0.2% in December and rising 0.3% in November.
Economists expected an increase of 0.4%.
Over 12 months at the end of January, their increase was 6%.
Energy prices climbed 5.4% in January after falling 10.3% in December.
Excluding food, energy and commercial services, producer prices increased by 0.6% in January, their strongest rate of increase since March 2022. Over 12 months, the increase is 4.5%.
Copyright (c) 2023 CercleFinance.com. All rights reserved.