From Quartz.
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U.S. producer prices rose 0.7% in February, the fastest monthly gain since August 2023, highlighting inflation pressures relevant to Federal Reserve policy. The producer price index increased 3.4% year over year, and the PPI excluding food, energy, and trade services rose 0.5% on the month and 3.5% annually. Goods prices climbed 1.1%, with food up 2.4% and energy goods up 2.3%, while services advanced 0.5%. The data predates the Feb. 28 U.S.-Israel strikes on Iran and does not reflect the subsequent oil surge near $100 per barrel. Futures imply no rate cut at Wednesday’s Fed decision; the benchmark rate remains 3.5%–3.75%, and prior CPI and core PCE readings were 2.4% and 3.1%. #inflation #economy #producerprices #federalreserve #economictrends
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