Reflecting steep drops in prices for food and energy, the Labor Department released a report on Friday showing that U.S. producer prices fell by slightly more than expected in December.
The Labor Department said its producer price index for final demand dipped by 0.2 in December after rising 0.3 percent in November. Economists had expected prices to edge down by 0.1 percent.
Excluding food and energy prices, core producer prices inched up by 0.1 in December after climbing 0.3 percent in the previous month. The modest uptick matched economist estimates.
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