Inflation 'at or about the peak' -Hogan

"We are at or about the peak. That's the good news. The bad news is that peak is pretty high and we'll start to see things get better incrementally as we work our way into the second half of next year," said Hogan.

The producer price index (PPI) rise 0.2% last month after advancing 0.8% in November while in the 12 months through December, the PPI rose 9.7% versus the 9.8% forecast of economists polled by Reuters. The PPI figures come a day after Wall Street indexes cheered consumer inflation numbers that hit a 40-year high but largely met market expectations.