US producer prices slightly higher than forecasts in January

By Mucahithan Avcioglu

ISTANBUL (AA) – Producer prices in the US increased by 0.4% month-on-month in January, up from 0.2% in December 2024, the Bureau of Labor Statistics said on Thursday.

The market expectation was a rise of 0.3% for the month.

"The index for final demand goods moved up 0.6% in January, the fourth consecutive rise. Over half of the broad-based January advance can be traced to a 1.7% increase in prices for final demand energy," it said.

"In January, a 10.4% increase in the index for diesel fuel was a major factor in the advance in prices for final demand goods," it added.

On an annual basis, producer inflation increased by 3.5% in January, compared to 0.9% in January 2024.

The market expected the figure to come in at 3.2% year-on-year.