Producer Price Inflation Jumps on Higher Services Cost

Rising prices of services pushed up a key index of inflation in December, data from the Labor Department showed Friday.

The producer price index for final demand rose by 0.5 percent in December, up from a 0.2 percent rise in November and 0.1 percent in October. Compared with a year ago, the index is up three percent, higher than the 2.9 percent forecast.

There was no sign of tariff pressures in the report, once again undermining claims from critics of Trump’s trade policies that import duties would be inflationary. Goods prices were flat for the month. Although the index excludes imports, many anti-tariff economists claimed that tariffs would…

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