Economy

US Producer Prices Rose 0.2% in February

US Producer Prices Rose 0.2% in February”

Producer prices rose 2.8% for the twelve months ended February 2017.

As far as January was concerned, America's PPI increased 0.4 percent in final demand while there was no change in December.

"Inflation is beginning to creep higher, led by services, exactly what you might expect in an economy characterized by a drum-tight labour market", Stephen Stanley, chief economist at Amherst Pierpont Securities, wrote in a research note. The index for final demand energy slipped 0.5%, while prices for final demand goods less foods and energy grew 0.2%.

On a monthly basis, the producer price index that measures wholesale inflation was up 0.2% following January's 0.4% increase. In the 12 months through February, the so-called core PPI increased 2.7%. The Labor Department reported Tuesday that consumer prices rose just 2.2 per cent over the past year. Economists polled by Reuters had forecast the PPI gaining 0.1% last month and increasing 2.8% from a year ago. Services were boosted by a rise in the cost of hotel accommodation, hospital inpatient care, airline fares and bundled wired telecommunications services. On the other hand, prices for final demand for goods fell 0.1 percent. Gasoline prices dropped 1.6 per cent after surging 7.1 per cent in January.



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