Wholesale inflation rose 0.6% in February, more than expected
Source: CNBC
Published Thu, Mar 14 2024 8:31 AM EDT Updated 3 Min Ago
Wholesale prices accelerated at a faster than expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy.
The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month, the Labor Department's Bureau of Labor Statistics reported Thursday. That was higher than the 0.3% forecast from Dow Jones and comes after a 0.3% increase in January.
Excluding food and energy, core PPI accelerated by 0.3%, compared to the estimate for a 0.2% increase. Another measure that also excludes trade services increased 0.4%, compared to the 0.6% gain in January.
On a year-over-year basis, the headline index increased 1.6%, the biggest move since September 2023.
Read more: https://www.cnbc.com/2024/03/14/producer-price-index-february-2024-wholesale-inflation-rose-0point6percent-in-february.html
Article updated.
Previous article -
Wholesale prices accelerated at a faster than expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy.
The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month. That was higher than the 0.3% forecast from Dow Jones and comes after a 0.3% increase in January.
Excluding food and energy, core PPI accelerated by 0.3%, compared to the estimate for a 0.2% increase.
This is breaking news. Please check back here for updates.
Original article -
The producer price index for February was expected to increase 0.3%, according to the Dow Jones consensus estimate.
This is breaking news. Please check back here for updates.
= new reply since forum marked as read
He can control Inflation levels with his magic wand but refuses to do so.
Yes, 