United States Producer Price Inflation MoM

US factory gate prices rose 0.4% month-over-month in January 2025, below an upwardly revised 0.5% in December and above forecasts of 0.3% led by food and energy prices. Cost of goods increased 0.6%, the 4th consecutive rise, and above 0.5% in December, led by a 10.4% increase in diesel fuel. The indexes for chicken eggs, beef and veal, gas fuels, jet fuel, and communication and related equipment also moved higher. At the same time, prices of services rose 0.3%, marking the 6th consecutive increase, after a 0.5% rise in December. Over one-third of rise can be traced to prices for traveller accommodation services, which advanced 5.7%. Meanwhile, annual producer inflation rate remained steady at 3.5%, the same as an upwardly revised 3.5% in December and above forecasts it would slow to 3.2%. Excluding food and energy, the PPI rose 0.3%, in line with forecasts but the annual rate came in at 3.6%, above expectations of 3.2%. Also, figures for the previous months were revised sharply higher.