Mumbai, March 2 -- The Labor Department released a report on Friday showing producer prices in the U.S. increased by more than expected in the month of January.
The report said the Labor Department's producer price index for final demand climbed by 0.5 percent in January after rising by a downwardly revised 0.4 percent in December.
The Labor Department also said the annual rate of producer price growth edged down to 2.9 percent in January from 3.0 percent in December.
The stronger than expected monthly producer price growth largely reflected a continued advance by prices for services, which grew by 0.8 percent in January after climbing by 0.7 percent in December.
Prices for trade services led the way higher, surging by 2.5 percent, whil...