Investing.com - Producer price inflation in the U.S. rose for the first time in four months in January, while core prices inched up slightly, official data showed on Wednesday.
In a report, the Bureau of Labor Statistics said that producer prices rose by a seasonally adjusted 0.2% in January, compared to expectations for a 0.3% gain, after falling 0.2% in December.
Year-over-year, the producer price index rose at an annualized rate of 1.4% last month, below expectations for a gain of 1.5%. PPI rose at an annualized rate of 1.3% in December.
The core producer price index eased up 0.2% in January, in line with expectations after rising 0.1% in December.
Core produces prices rose at an annualized rate of 1.8% last month, above forecasts for a 1.7% increase, after climbing 2% in December.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.1% to trade at 1.3377.
Meanwhile, U.S. stock index futures were little changed. The Dow Jones Industrial Average futures pointed to flat open, S&P 500 futures were little changed, while the Nasdaq 100 futures signaled a flat open.
In a report, the Bureau of Labor Statistics said that producer prices rose by a seasonally adjusted 0.2% in January, compared to expectations for a 0.3% gain, after falling 0.2% in December.
Year-over-year, the producer price index rose at an annualized rate of 1.4% last month, below expectations for a gain of 1.5%. PPI rose at an annualized rate of 1.3% in December.
The core producer price index eased up 0.2% in January, in line with expectations after rising 0.1% in December.
Core produces prices rose at an annualized rate of 1.8% last month, above forecasts for a 1.7% increase, after climbing 2% in December.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.1% to trade at 1.3377.
Meanwhile, U.S. stock index futures were little changed. The Dow Jones Industrial Average futures pointed to flat open, S&P 500 futures were little changed, while the Nasdaq 100 futures signaled a flat open.