U.S. Producer Prices Increase 0.7% in February, Exceeding Forecasts

Deep News
03/18

Data released by the U.S. Bureau of Labor Statistics shows the Producer Price Index (PPI) for final demand increased 0.7% month-over-month in February, following a 0.5% rise the previous month. The median estimate from 52 forecasts was for a 0.3% increase, with projections ranging from a 0.1% decline to a 0.7% gain. Year-over-year, the final demand PPI climbed 3.4%, compared to an expected increase of 3%. The core PPI for final demand, which excludes food and energy, rose 0.5% month-over-month, surpassing the forecast of a 0.3% gain. Compared to the same period last year, the core PPI increased 3.9%, higher than the anticipated 3.7% rise. The final demand PPI excluding food, energy, and trade services advanced 0.5% for the month and was up 3.5% from a year ago.

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