US producer prices are expected to rise by 0.3% month-over-month in January 2026, after a 0.5% increase in December. Core PPI, which excludes food and energy, is also forecast to increase by 0.3%, compared with a 0.7% jump in the previous month. On an annual basis, headline producer inflation is projected to ease to 2.6% which would be the lowest in seven months, from 3% in both December and November. Core producer inflation is expected to edge down to 3% from 3.3%. Investors will be watching the release closely for signs of tariff-related price pressures, though the data are likely to continue to suggest that such effects remain limited for now.