The producer price index increased by a seasonally adjusted 0.4% on the month, compared with the Dow Jones estimate for 0.3%. Stock market futures moved slightly higher following the release while Treasury yields fell. Wall Street strategists cited details of the report that suggested a slightly more benign inflation picture.
A gauge of wholesale prices rose more than expected in January, though some details of the report indicated that pipeline inflation pressures are easing.
The producer price index, which measures what producers get for their goods and services, increased by a seasonally adjusted 0.4% on the month, compared with the Dow Jones estimate for 0.3%, the Bureau of Labor Statistics reported Thursday.
Excluding food and energy, the core PPI was up 0.3%, in line with the forecast.
Stock market futures moved higher following the release while Treasury yields were sharply lower, despite the higher-than-expected headline number. Wall Street strategists cited details of the report that suggested a slightly more benign inflation picture.
In particular, some costs related to health care showed easing