U.S. wholesale prices continued their overall disinflation trend in December, closing out 2023 with another modest monthly decrease.
The Labor Department’s latest Producer Price Index for final demand ticked down 0.1% in December (seaonally adjusted), following monthly declines of 0.1% in November and 0.4% in October.
RELATED: U.S. Consumer Inflation Accelerated in December
Released Jan. 12, the PPI report said December’s decrease in the index for final demand was driven by a 0.4% drop in prices for final demand goods, while the index for final demand services was unchanged.
The index for final demand less foods, energy and trade services — known as ‘core inflation’ — rose 0.2% in December after edging up 0.1% in both November and October. On an annual basis, core inflation climbed 2.5% in 2023 following a 4.7% increase in 2022.
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However, "Core inflation" was identical to November on a monthly basis and slightly decelerated year-over-year.
