U.S. producer prices rose in January, the latest sign of building inflation pressure in the economy.
The producer-price index, a measure of the prices businesses charge for their goods and services, rose a seasonally adjusted 0.4% in January from a month earlier, the Labor Department said Thursday. From a year earlier, producer prices advanced 2.7% last month.
The report is the latest showing inflation building in the economy after a long period of very small price increases. Wednesday’s consumer-price index report showed prices rising 0.5% in January, and they were up 0.349% when excluding food and energy, the strongest one-month increase since March 2005. Separately, nominal hourly wages in January rose at the best rate from a year earlier since the recession ended in mid-2009.
View Article