Inflation rises slightly to 1% in December in producer price index

Wholesale inflation, as measured by the producer price index, ticked up slightly to 1% for the year ending in December as the Federal Reserve keeps interest rates high.

The new numbers were released on Friday by the Bureau of Economic Analysis. The December increase came after an 0.8% annual increase the month before. Most forecasters anticipated a slight uptick in wholesale inflation in December.

On a month-to-month basis, the wholesale price index fell by a tenth of a percentage point.

The new wholesale inflation numbers come a day after the more-closely-watched consumer price index report for December was released.

Inflation ticked up to 3.4% for the year ending in December, slightly more than was expected. On a month-to-month basis, inflation rose 0.3%, also more than expected. Notably, much of the increase was attributable to rising shelter costs.

There has recently been a wave of optimism that
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