The price of wholesale goods and services fell more than expected in December, further evidence that a decades-high bout of inflation continues to subside amid a recent rebound in cryptocurrency prices. The Producer Price Index (PPI) for final demand fell 0.5% in December, the U.S. Bureau of Labor Statistics said Wednesday, beating analyst expectations of a 0.1% decrease. It was the largest decline on a monthly basis since April of 2020. The index, which tracks price changes in what U.S.-based suppliers are charging businesses and other consumers, showed prices rose 6.2% in 2022, substantially lower than 10% in 2021. (full story)