Wholesale inflation in the United States crept up barely last month, as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rate unchanged this year.
Figures released Wednesday by the U.S. Labor Department said on Wednesday its producer price index for final demand ticked up 0.1% last month after being unchanged in November. In the 12 months through December, the PPI increased 1.3% after gaining 1.1% in November.
Economists had forecast the PPI climbing 0.2% in December and advancing 1.3% on a year-on-year basis.
Excluding the volatile food, energy and trade services components, producer prices also nudged up 0.1% in December after being unchanged in November. The so-called core PPI rose 1.5% in the 12 months through December after increasing 1.3% in November.
