FX.co ★ US Producer Price Inflation Eases Slightly to 2.9% in January 2026

U.S. producer price inflation moderated slightly at the start of 2026, with the Producer Price Index (PPI) rising 2.9% year-over-year in January, down from 3.0% in December 2025. The latest figure, updated on 27 February 2026, reflects a modest easing in price pressures at the factory gate.

On a year-over-year basis, the “actual” January reading compares the change in producer prices in January 2026 with January 2025, while the “previous” December figure compared December 2025 with December 2024. The marginal slowdown suggests producer-level inflation is stabilizing but remains close to recent levels, offering a cautiously positive signal for cost pressures further along the supply chain.

Market participants and policymakers will be watching upcoming PPI releases to assess whether this slight deceleration marks the start of a more pronounced disinflation trend or simply a pause within a still-firm producer price environment.