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Rising services costs lift U.S. producer prices in February

Reuters  |  WASHINGTON, March 14 

WASHINGTON, March 14 (Reuters) - U.S. producer prices increased slightly more than expected in February as a rise in the cost of services offset a decline in the price of goods.The Labor Department said on Wednesday its producer price index for final demand rose 0.2 percent last month after increasing 0.4 percent in January.That lifted the year-on-year increase in the PPI to 2.8 percent in February from 2.7 percent in January. Economists polled by Reuters had forecast the PPI gaining 0.1 percent last month and increasing 2.8 percent from a year ago.A key gauge of underlying producer price ...

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First Published: Wed, March 14 2018. 18:17 IST
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