The main inflation measure reached double digits in February

The U.S. Manufacturers’ Price Index, which monitors the average wages of American manufacturers over time for their goods and services, rose 10% over the 12-month period ending in February, unchanged by seasonal fluctuations. Office of Labor Statistics.

This is a slightly faster price increase than economists had predicted.

Over the one-month period, producer prices rose 0.8% in February, slightly lower than forecast for the season and lower than the January level.

Where is the price high?

Much of the February price hike came on the back of higher energy costs. Global oil prices soared in late February as Russia occupied Ukraine. Since the beginning of the year, U.S. oil prices have risen nearly 30%.

The February price increase for finished goods was almost 40% Due to To do Higher gas prices, For example. Out of energy, Cars and trucks Dairy products also became more expensive.

Prices of goods sold to other businesses, such as parts, also rose due to energy costs.

Thus, the elimination of energy costs paints a more controlled picture of manufacturer price inflation.

Without energy, food and trade services, the PPI rose 0.2% in February – the lowest level since January and the lowest level since November 2020 – and 6.6% over the 12-month period. Year.

This is a growing story. It will be updated

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