Wholesale prices in the U.S. rose modestly in December in a reprieve from a string of elevated inflation in the final months of 2024 that have likely put off any further reductions soon in interest rates.

U.S. producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months.

Wholesale prices rose a seasonally adjusted 0.2% in December, half of what Wall Street forecasters believe would jump while the rate for the core producer price index over the same period remained flat,