Economic Buzz: US Producer Prices Up 0.8% In February

16 Mar 2022 , 08:36 AM

US producer price index for final demand climbed by 0.8 percent in February after surging by an upwardly revised 1.2 percent in January, a report released by the Labor Department on Tuesday showed. Compared to the same month a year ago, producer prices were up by a record 10.0 percent in February, unchanged from a revised 10.0 percent spike in January. Energy prices helped lead the monthly increase in producer prices, soaring by 8.2 percent in February after surging by 3.7 percent in January. The report also showed another jump in food prices, which shot up by 1.9 percent in February after leaping by 1.7 percent in January.

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