It was a little less progress than economists had predicted.
By removing food, energy and trade services prices, which measure changes in margins received by wholesalers and retailers, the inflation index rose 6.9% last year, compared with a modest 1[ads1].3% increase in 2020.
In December alone, PPI data followed a similar pattern to the consumer price index released on Tuesday: prices continued to rise in December, but at a much slower pace than in previous months.
More than half of the price increases for services were due to higher prices for trade services.
This is a story in development. It will be updated.