Mumbai, Feb. 1 -- Producer prices in the U.S. increased by much more than anticipated in the month of December, according to a report released by the Labor Department on Friday.
The Labor Department said its producer price index for final demand climbed by 0.5 percent in December after rising by 0.2 percent in November.
The report also said producer prices in December were up by 3.0 percent compared to the same month a year ago, unchanged from November. The annual rate of growth was expected to slow to 2.7 percent.
The bigger than expected monthly increase in producer prices largely reflected a 0.7 percent advance by prices for services, which marks the fastest growth since July.
Prices for trade services led the way higher, jumping by ...