U.S. Producer Prices Rise Slightly Less Than Expected In December

(RTTNews) - Producer prices in the U.S. rose by slightly less than expected in the month of December, according to a report released by the Labor Department on Tuesday.

The Labor Department said its producer price index for final demand crept up by 0.2 percent in December after climbing by 0.4 percent in November. Economists had expected producer prices to rise by 0.3 percent.

Meanwhile, the report said the annual rate of producer price growth accelerated to 3.3 percent in December from 3.0 percent in November. The acceleration matched economist estimates.