Overview:  The U.S. Treasury registered a deficit of $80 billion in December.  The PPI rose 1.1% while the core PPI was up 0.2%.  The CPI rose 0.5% while the core CPI rose 0.1%.  The U.S. trade deficit narrowed marginally to $38.3 billion in November.  Retail sales increased 0.6% in December.  Industrial production rose 0.8% in December.  Business inventories were up 0.2% in November.  Initial jobless claims rose by 35,000 to a level of 445,000 for the week ended 1/8.

• The U.S. Treasury reported a deficit of $80 billion in December.
• The producer price index increased 1.1% in December amidst a sharp increase in food and energy costs; excluding these, the core PPI was up 0.2%. For the year, the core PPI was up 1.3%. 
• The consumer price index rose 0.5% in December; the core CPI was up just 0.1%. For the year, the core CPI inched up 0.8%. 
• The U.S. balance of trade unexpectedly narrowed very slightly in November, declining by $0.1 billion to $38.3 billion.  Imports rose by $1.1 billion and exports increased $1.2 billion. 
• Retail sales rose 0.6% in December; excluding autos, sales were up 0.5%.
• Industrial production was up 0.8% in December.
• Business inventories increased by a less-than-expected 0.2% in November.
• Initial jobless claims jumped up by 35,000 to 445,000 for the week ended January 8^th.