The Labor Department reported on Wednesday the U.S. producer-price index (PPI) edged up 0.1 percent m-o-m in December, following an unrevised flat m-o-m performance in November.

For the 12 months through December, the PPI rose 1.3 percent, accelerating from 1.1 percent in the previous month.

Economists had forecast the headline PPI would increase 0.2 percent m-o-m and 1.3 percent over the past 12 months.

According to the report, the December advance in the final demand index was the result of a 0.3-percent m-o-m gain in prices for final demand goods, while the index for final demand services was unchanged m-o-m.

Excluding volatile prices for food and energy, the PPI rose 0.1 percent m-o-m and 1.1 percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m and 1.3 percent y-o-y, respectively.