The wholesale cost of U.S. goods and services posted the biggest decline in December in five months, another sign that lower gasoline prices have eased inflationary pressures in the economy
The producer price index dropped 0.2% last month. Economists polled by MarketWatch had predicted a 0.1% decline.
The increase in wholesale inflation over the past year was unchanged at 2.5%. The 12-month rate had hit a seven-year peak of 3.4% last July.
The wholesale cost of goods sank 0.4%.
The cost of energy, mostly gas, fell 5.4%.
Wholesale food prices rose 2.6%, however.
The cost of services slipped 0.1%.