Market Updates
Producer Price Inflation Accelerates In February
Brian Turner
14 Mar, 2024
New York City
The producer price index for the final demand increased by 0.6% from the previous month in February, the U.S. Bureau of Labor Statistics reported Thursday.
The annual measure of wholesale inflation accelerated to 1.6% in the month from 0.9% in January after high energy prices drove goods prices to increase at the fastest pace in six months.
Goods prices increased 1.2%, and the cost of services edged up 0.3%.
However, the core rate of inflation, which excludes volatile energy and food prices, rose at a slower pace of 0.3% after rising 0.5% in the previous month.
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