Inflation in producer prices in USA accelerated more than expected in February and the basic prices showed stronger than expected upward pressure. In its report, the Commerce Department said that producer prices rose a seasonally adjusted level of 0.3% last month, well above forecasts for growth of 0.1%. In January, the increase was 0.6%.
For the 12 months to the end of February, the index of producer prices grew by 2.2% yoy in February compared to expectations of 2.0% after an increase of 1.6% in the previous month.
The index of main producer prices, which exclude food and energy, rose by 0.3% in February, well above forecasts for growth of 0.2%. During the previous month the increase was 0.4%.