The producer price index for final demand climbed 0.4% from a month earlier, and that after an upwardly revised 0.5% increase in December, the Bureau of Labor Statistics said Thursday. The data on wholesale prices comes just a day after a consumer price index report showed underlying inflation at its highest in more than a year.

Wholesale prices moved up 0.4 percent in January to hit a 3.5 percent annual increase, undergirding consumer inflation that broke 3 percent last month for the first time since the second quarter of 2024.