Wholesale prices rose less than projected by economists in December, but still set a new annual standard, the Labor Department said Thursday.
The producer price index, which measures prices received by producers of goods, services and construction, was up 0.2% for the month, half the 0.4% Dow Jones estimate. On a 12-month basis, the index was up 9.7% to end 2021, the highest calendar-year increase ever in data going back to 2010.
The monthly gain was a sharp drop-off from the two previous months.
A separate report Thursday showed that initial jobless claims for the week ended Jan. 8 totaled 230,000, a considerable increase from the previous week’s 207,000.
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