BLS: US PPI Rises 0.7% M-o-M in February

SECAUCUS, NJ (DTN) – The Producer Price Index (PPI) for final demand advanced 0.7% in February, following a 0.5% increase in January and 0.4% in December, the U.S. Bureau of Labor Statistics (BLS) reported Wednesday (3/18).

The February increase was led by a 1.1% rise in prices for final demand goods, compared to expectations of 0.3%. The index for final demand services prices rose 0.5% month-on-month.

Year-on-year, PPI for final demand was up 3.4% in February versus 2.9% in January, and against a market consensus of 3.0%.

Core PPI for final demand, which strips out volatile food and energy components as well as trade services, rose 0.5% in February after growing 0.8% in January, and against expectations of a 0.3% increase.

Over the past 12 months, this core measure increased 3.9% on an unadjusted basis, versus the January reading of 3.6% and forecasts of 3.7%.