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US monthly producer prices pick up less than expected in December 2019

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US monthly producer prices pick up less than expected in December 2019

Seasonally adjusted producer prices in the U.S. edged up 0.1% month over month in December 2019 after remaining flat in the prior month, according to latest data from the U.S. Bureau of Labor Statistics.

The consensus estimate of economists polled by Econoday was for an increase of 0.2% in December 2019.

The index for final demand services remained flat in December 2019, following a 0.3% decrease recorded in the previous month. A 2.7% increase in the index for final demand transportation and warehousing services offset a 0.3% decline in margins for final demand for trade services

Prices for final demand goods increased 0.3% in December 2019, following the same pace of growth recorded in November 2019. Most of the rise in December 2019 was attributable to a 1.5% growth in prices for final demand energy.

On an unadjusted basis, the producer price index for final demand rose 1.3% year over year in December 2019.