U.S. producer prices fall in December on declining energy costs

© Reuters. A shopper walks by the sodas aisle at a grocery store in Los Angeles

WASHINGTON (Reuters) – U.S. producer prices fell in December as energy prices dropped sharply, a trend that could temper expectations that inflation will rise this year toward the Federal Reserve’s target.

The Labor Department said on Friday its producer price index slipped 0.2 percent after increasing 0.3 percent in November.

In the 12 months through December, the PPI declined 1.0 percent…

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U.S. producer prices fall in December on declining energy costs