US: Annual PPI remains at to 9.7% in January vs. expected drop to 9.1%

The headline US Producer Price Index (PPI) rose at an annual pace of 9.7% in January, according to the latest report from the US Bureau of Labor Statistics on Tuesday. That was well above the median economist forecast for 9.1% and was unchanged December's 9.7% reading. MoM, PPI came in at 1.0% in January, well above expectations for a 0.5% MoM gain.