Singular Bank | According to the BLS, in February, the US producer price index continued to accelerate its growth rate to 0.7% month-on-month (against 0.5% in January), in contrast to the moderation estimated by the consensus of analysts (0.3%). In turn, on a year-on-year basis, the PPI rose by 3.4% (against 2.9% in January). This trend occurred before the start of the conflict in the Middle East, so its impact is not reflected.
The body publishing the report noted that “more than half of the rise in final demand prices in February is attributed to a 0.5% increase in the services index. Prices for final demand goods rose by 1.1%”.
