The closely scrutinized monthly consumer-price index is due at 8:30 a.m. ET. Here are some key points to know ahead of the report: Economists expect annual inflation to come in at 2.9% as of December,

U.S. producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months.

The Labor Department reported Tuesday that its producer price index — which tracks inflation before it hits consumers — rose 0.2% last month from November, down from a 0.4% gain the month before. Compared with a year earlier,