US producer prices increased by slightly less than expected in the month of February.
- The producer-price index, which measures supply conditions in the economy, rose a seasonally adjusted 0.8% in February from the previous month slowing from January’s upwardly revised 1.2% increase.
- On a 12-month basis, the producer-price index was 10% in February, the same as the previous month.
- Higher energy and commodity prices have led to supplier-price increases. The energy component of the producer-price index jumped 8.2% in February from the previous month.
- The so-called core price index, excluding the often-volatile categories of food, energy rose 0.2% in February from a month ago.
The producer-price report captures the pressure on input costs for producers. Good prices have contributed to an increase in producer inflation over a larger part of last year.
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Source: US Bureau of Labor Statistics