US: Annual PPI drops to 2% in January from 2.5% in December

"The Producer Price Index for final demand edged down 0.1 percent in January," the U.S. Bureau of Labor Statistics announced on Thursday.

Key takeaways from the press release

• Final demand prices also fell 0.1 percent in December and inched up 0.1 percent in November.
• On an unadjusted basis, the final demand index advanced 2.0 percent for the 12 months ended in January. 
• The index for final demand less foods, energy, and trade services rose 0.2 percent in January following no change in December.
• For the 12 months ended in January, prices for final demand less foods, energy, and trade services moved up 2.5 percent.