FX.co ★ US Core PPI Inflation Ticks Up to 3.6% Year-on-Year in January

The United States Core Producer Price Index (Core PPI) accelerated to 3.6% year-on-year in January 2026, up from 3.3% in December 2025. The data, updated on 27 February 2026, highlight a modest pickup in underlying producer-level inflation at the start of the year.

Both the current and previous readings compare price changes for each month against the same month a year earlier. While December’s 3.3% annual increase reflected relatively contained pipeline price pressures, January’s 3.6% suggests some firming in core producer costs, excluding the most volatile components.

The uptick in Core PPI will be closely watched by markets and policymakers as a potential early signal of broader inflation trends, given that producer prices can feed through into consumer prices over time.