US producer prices rose more than analysts expected in January, government data showed Friday, boosted by services costs. The producer price index (PPI) climbed 0.5 percent on a month-on-month basis, the Department of Labor said, picking up slightly from December's revised figure and above the 0.3 percent that economists expected. From a year ago, PPI was up 2.9 percent, inching down slightly from December's 3.0 percent. "Producer prices rose more than expected in January as service-related costs and stronger pricing power push up margins received by wholesalers and retailers," said Nationwide senior economist Ben Ayers.