The Labor Department released a report on Friday showing producer prices in the U.S. increased by more than expected in the month of January.
The report said the producer price index for final demand rose by 0.3 percent in January after edging down by 0.1 percent in December. Economists had expected producer prices to inch up by 0.1 percent.
Excluding prices for food, energy, and trade services, core producer prices climbed by 0.6 percent in January after rising by 0.2 percent in December.
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