Annual PPI Rises to 9.7% in December

The headline US Producer Price Index (PPI) rose at an annual pace of 9.7% in December, according to the latest report from the US Bureau of Labor Statistics on Thursday. That marked a new series record high (PPI was first reported back in 2011) but was slightly below the median economist forecast for 9.8% and a slight acceleration versus November’s 9.6% reading. MoM, PPI came in at 0.2% in December, below expectations for a 0.4% MoM gain.