12.01.202412:36:00UTC+00U.S. Producer Prices Unexpectedly Edge Down 0.1% In December

Producer prices in the U.S. unexpectedly edged slightly lower in the month of December, according to a report released by the Labor Department on Friday.

The Labor Department said its producer price index for final demand slipped by 0.1 percent in December, matching a revised dip in November.

Economists had expected producer prices to inch up by 0.1 percent compared to the unchanged reading originally reported for the previous month.

Meanwhile, the report said the annual rate of producer price growth accelerated to 1.0 percent in December from a downwardly revised 0.8 percent in November.

The annual rate of producer price growth was expected to speed up to 1.3 percent from the 0.9 percent originally reported for the previous month.