Producer Prices Rise 0.9%; ‘Core’ Rate Rises 0.1%
he U.S. producer price index rose 0.9% in December, the Labor Department reported Friday.
he December reading of prices paid to factories, farmers and other producers followed a 0.7% decline in November.
The so-called “core” PPI, excluding energy and food, rose 0.1% for a second straight month, Labor said. They were expected to rise 0.2%, Bloomberg reported.
Core producer prices for the year rose 1.7%, less than the 2.4% gain in 2004.
An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it could also hurt the economy.