The Labor Department reported Tuesday that its producer price index — which tracks inflation before it hits consumers — rose 0.2% last month from November, down from a 0.4% gain the month before. Compared with a year earlier, producer prices rose 3.3%, biggest jump since February 2023 and up from a 3% gain in November.

The producer price index for final demand rose 0.2% last month after an unrevised 0.4% advance in November, the Labor Department's Bureau of Labor Statistics said on Tuesday.

U.S. wholesale inflation rose last month on higher energy prices. The Labor Department reported Tuesday that its producer price index — which tracks inflation before it hits consumers — rose 0.2% last month from November,

U.S. producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months.

US producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend. The moderation in producer inflation reported by the Labor Department this week did not change the view that the Federal Reserve

Inflation, as measured by the producer price index, rose three-tenths of a percentage point to 3.3% for the year ending in December, hinting that the economy may not yet have vanquished price pressures.

US producer inflation rose less than analysts expected in December, according to government data released Tuesday, on the back of cooler food costs.

The Labor Department releases its producer price index for December on Tuesday. The index measures inflation at the wholesale level, before businesses pass costs on to consumers. Economists predict that wholesale prices rose at a higher pace last month than in November.

Wall Street's main indexes were on track to open higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year. A Labor Department report showed the producer price index rose 3.

Cool wholesale inflation numbers provide only slight relief before Wednesday's release of December Consumer Price Index data.

After moving to the upside early in the session, treasuries showed a lack of direction over the course of the trading day on Tuesday.

U.S. producer prices experienced a slowdown in December, following a lesser-than-expected rise. While this indicates a downward inflation trend, the Federal Reserve is unlikely to cut interest rates soon.