The U.S. producer price increase in January wrote the largest since 2009, mainly due to the rising cost of goods and services, suggesting that manufacturing Inflation is climbing.
The U.S. Department of Labor said on January 17, the final demand producer price index (PPI) jumped 1.3% month-on-month, an increase of 0.3% greater than the previous month and market forecasts of 0.4%, and the largest in December 2009. The year-over-year increase expanded to 1.7%, up from 0.8% in the previous month and 0.9% forecast by analysts.
Services prices rose 1.3% in January, better than the previous month’s 0.1% decline and the largest increase since December 2009, with this element accounting for two-thirds of the PPI increase. Goods prices surged 1.4%, up from a 1% increase the month before.
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