U.S. producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months.

The Labor Department reported Tuesday that its producer price index — which tracks inflation before it hits consumers — rose 0.2% last month from November, down from a 0.4% gain the month before. Compared with a year earlier, producer prices rose 3.3%, biggest jump since February 2023 and up from a 3% gain in November.

US stocks gained after cooler-than-expected producer price index data soothed inflation concerns. The numbers on Tuesday showed wholesale inflation rose 0.2% in December on a monthly basis, compared to an estimated 0.4% increase. The reading climbed 3.3% from a year ago, below the projected 3.5% gain.

There are growing concerns about the stickiness of inflation and fears that the Federal Reserve may have to keep interest rates restrictively high for longer.

Wall Street's main indexes were on track to open higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year. A Labor Department report showed the producer price index rose 3.

Learn about the latest Producer Price Index data for December 2024, showing a % increase from the previous month and meeting consensus expectations.

The Producer and Import Price Index remained unchanged in December 2024 compared with the previous month, at 106.3 points (December 2020 = 100). Compared with December 2023, the price level of the whole range of domestic and imported products fell by 0.

US wholesale inflation unexpectedly cooled in December, helped by a drop in food costs and flat services prices that may help temper concerns of lingering price pressures.

Producer prices rose less than expected in Dec, easing Fed's inflation concerns and providing relief to markets. Core PPI also flattened.

Industrial prices changed 1.23% in November 2024 over October 2024, the tenth positive figure in a row. In this

A gauge of wholesale inflation rose 0.2% in December from November, a softer reading than economists expected and a slowdown from the prior month. The producer-price index, published by the Labor Department on Tuesday,

The producer price index, which measures the costs of goods traded between companies, rose 2.3% from the previous year to 122.6.