Wholesale prices unexpectedly declined in December, providing a positive signal for inflation, the Labor Department reported Friday.
Excluding food, energy and trade services, PPI also was up 0.2%, in line with the estimate.
For the full year, the final demand measure less food, energy and trade services rose 2.5% for all of 2023 after being up 4.7% in 2022.
Markets initially reacted positively to the PPI release but turned lower through morning trading.
PPI measures the prices that producers pay for goods and services, while CPI gauges what consumers pay in the marketplace.
Persons:
Dow Jones, Kurt Rankin, Jamie Dimon
Organizations:
Labor Department, PPI, PNC, Diesel, Traders, Federal, Market, JPMorgan
Locations:
U.S