The U.S. Commerce Department released the producer price index figures on Friday. The U.S. producer price index fell 0.2% in December, in line with expectations, after a 0.3% rise in November.

A stronger U.S. dollar and weak global demand weigh on inflation.

The decline was mainly driven by a drop in energy prices, which declined 3.4% in December.

Services prices were up 0.1% in December, while prices for goods declined 0.7%.

Wholesale food prices slid 1.3% in December.

On a yearly basis, the producer price index decreased 1.0% in December, in line with expectations, after a 1.1% fall in November.

In 2015 as whole, U.S. producer prices declined 1.0%, after a 0.9% rise in 2014.

The producer price index excluding food and energy rose 0.1% in December, in line with expectations, after a 0.3% increase in November.

On a yearly basis, the producer price index excluding food and energy climbed 0.3% in December, in line with forecasts, after a 0.5% rise in November.

These figures could mean that the Fed will delay its further interest rate hikes.