Economics
U.S. Producer Prices Rise Less Than Estimated as Virus Rages
- Almost half the gain in goods measure came from gas prices
- Services price gauge fell for the first time since April
Photographer: Luke Sharett/Bloomberg
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Prices paid to U.S. producers rose less than expected in December as the pandemic continued to limit pricing power at the end of 2020.
The producer price index for final demand climbed 0.3% from a month earlier after a 0.1% gain in November, Labor Department figures showed Friday. The figure was below the median estimate of 0.4% in a Bloomberg survey of economists. The PPI advanced 0.8% from a year earlier.