FX.co ★ Core U.S. Producer Prices Accelerate in December, Pointing to Firmer Underlying Inflation Pressures

Core producer prices in the United States, excluding food, energy and transport, rose 0.4% month-over-month in December 2025, doubling the 0.2% increase recorded in October 2025. The latest data, updated on 30 January 2026, signal a pickup in underlying wholesale inflation at the end of the year.

The indicator measures the change in prices received by domestic producers for their output, stripping out more volatile categories such as food, energy, and transportation. On a month-over-month basis, December’s result reflects a stronger advance compared with earlier in the fourth quarter, as the “actual” figure captures the change from November to December, while the “previous” reading showed the change from September to October.

The acceleration in core producer prices suggests that underlying cost pressures in the production pipeline edged higher into year-end, a development that could influence future pricing decisions by firms and factor into assessments of the inflation outlook.