US Core PPI Surges in December

Core producer prices in the United States, which exclude food and energy, climbed by 0.8% from the previous month in January 2026, following a downwardly revised 0.6% increase in December and surprising analysts, who had expected a 0.3% rise. This marked the steepest increase in core producer prices since July 2025, as final demand goods prices excluding food and energy rose 0.7%, up from 0.4% in December, while services prices increased 0.8%, following a 0.7% gain. On a yearly basis, core producer prices advanced by 3.6% in January, accelerating from 3.3% in December and above market forecasts of 3%.

Core producer prices in the United States, which exclude food and energy, jumped by 0.7% from the previous month in December of 2025, the sharpest increase in five months, and firmly above market expectations of a softer 0.2% increase. Final demand prices for goods less food and energy were 0.4% higher, while those for services surged by 0.7%.

Core producer prices in the United States, which exclude food and energy, were unchanged from the previous month in November of 2025, holding the 0.3% increase in October and below market expectations of a 0.2% increase. Final demand prices for services stalled in the period, limiting the impact of the 1.2% jump in the final demand of goods less.