The Labor Department reported on Friday the U.S. producer-price index (PPI) rose 0.3 percent m-o-m in December, following an unrevised 0.1 percent m-o-m gain in November.

For the 12 months through December, the PPI increased 0.8 percent after an unrevised 0.8 percent advance in the previous month.

Economists had forecast the headline PPI would increase 0.4 percent m-o-m last month and 0.8 percent over the past 12 months.

According to the report, the December increase in the final demand index can be traced to a 1.1-percent m-o-m gain in prices for final demand goods. Meanwhile, the index for final demand services fell 0.1 percent m-o-m.

Excluding volatile prices for food and energy, the PPI edged up 0.1 percent m-o-m and jumped 1.2 percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m and 1.3 percent y-o-y.