(Bureau of Labor Statistics) The US recorded a 1.0% increase in producer prices in January, catapulting the annual gain to 9.7%, a level close to the record high in 2010.
The January jump in producer prices is an acceleration from December when it gained 0.4%.
The producer prices reflected a 0.7% jump in services in January, while final demand goods advanced by a higher 1.3%.
Less food, energy, and trade services, producer prices rose by 0.9% in January, the largest gain since January 2021. The prices gained by 6.9% in the twelve months ended January 2022.
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