US producer prices grow more than forecast in February

March 14, 2018 1:21 PM

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US producer prices grow more than forecast in February

Mubasher: US Producer Price Index (PPI) rose at a slower pace in February but beat analysts’ forecasts, while core prices posted the largest growth in 4 years.

The PPI increased by 0.2% last month, compared with a 0.4% rise in January, data by the US Labour Department showed on Wednesday.

However, economists had expected a slighter growth of 0.1% in February.

On an annual basis, producer prices expanded 2.8% in the second month of the year.

Meanwhile, core prices, which exclude the volatile components, jumped 2.7% in February, marking the strongest increase since August 2014, compared with a 2.5% increase in the previous month.

Source: english.mubasher.info

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