Home Business & Finance Producer Prices in U.S. Rise Unexpectedly

Producer Prices in U.S. Rise Unexpectedly

Producer prices in U.S. rise unexpectedly

Producer prices in U.S. rise unexpectedly

Source : Pixabay/Tariq786

Wholesale prices rose again in February, according to new data released by the government on Tuesday. The pace of growth slowed notably from the previous month, but the advance was stronger than economists had expected.

Core prices increased as well, posting the highest rate of growth in 10 months. The news, which could indicate some inflationary pressure building in the pipeline, comes out as the Federal Reserve begins its two-day interest rate meeting.

The U.S. Labor Department said its producer price index for final demand advanced by 0.3 percent in February. This followed a rise of 0.6 percent in January. Economists had expected PPI to rise by 0.1 percent for the month.

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