(Alliance News) - Producer prices in the US fell in December from the month before and their annual rise slowed, according to the latest report from the US Bureau of Labor Statistics on Wednesday.
The producer price index for final demand declined by 0.5% on a seasonally adjusted basis in December from November. In November prices had risen by 0.2% from October.
Market consensus, as cited by FXStreet, had expected total final demand prices to fall by 0.1% month-on-month.
Excluding foods, energy and trade services, final demand prices rose by 0.1%. In November, this figure rose by 0.3%. Prices for final demand goods moved down 1.6% in December, the largest decrease since falling 1.8% in July. The month prior, goods prices rose by 0.1%.
Annually, the index for total final demand prices increased 6.2% in December, following a 7.3% annual rise the previous month. Excluding food and energy, prices rose 5.5%.
Separately, the US Census Bureau said advance estimates for US retail and food services sales were USD677.1 billion in December, down 1.1% from November.
November's figured was downwardly revised to USD685.0 billion.
Against the previous year, sales were up 6.0%.
By Heather Rydings, Alliance News senior economics reporter
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