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