FX.co ★ US Core PPI Unexpectedly Edges Higher

Core producer prices in the United States, which exclude food and energy, rose 0.8% month-over-month in January 2026. This followed a downwardly revised 0.6% increase in December and significantly exceeded analysts’ expectations for a 0.3% gain. It was the sharpest monthly rise in core producer prices since July 2025.

The increase was broad-based: final demand goods prices excluding food and energy advanced 0.7%, up from 0.4% in December, while services prices climbed 0.8%, after a 0.7% gain in the previous month.

On an annual basis, core producer prices were up 3.6% in January, accelerating from 3.3% in December and coming in above market forecasts of 3%.