U.S. January Producer Prices Rise 0.5% as Oil Climbs Above $67.50

U.S. producer prices rose 0.5% in January, exceeding expectations, with the year-over-year increase at 2.9% and core producer inflation at 3.6%. Oil prices advanced more than $2 on the day to trade above $67.50, up 18% so far in 2026. The latest monthly gain implies an annualized pace of 6%, adding upward pressure on consumer prices, with 2026 CPI expected to post its largest increase since 2022, the report said.