The Bureau of Labor Statistics showed that its producer price index (PPI) rose 3.3% from the year prior, up from 3% in November but below the 3.5% increase economists had projected.

A leading indicator of Japan's service-sector inflation hit 2.9% in December as prices rose for a broad range of services such as accommodation and transportation, data showed, keeping alive expectations of further interest rate hikes by the central bank.

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.

U.S. wholesale inflation rose last month on higher energy prices. The Labor Department reported Tuesday that its producer price index — which tracks inflation before it hits consumers — rose 0.2% last month from 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.

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.

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.

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.

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

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,

Investors are gearing up for December's crucial consumer price index to determine the direction of Fed policy.