Ekonomické zprávy

U.S. PPI jumps more than forecast in February

The Labor Department reported on Friday the U.S. producer-price index (PPI) jumped 0.6 per cent m-o-m in February, following an unrevised 0.3 per cent m-o-m gain in January. This represented the strongest monthly increase in PPI since August 2023 (+0.6 per cent m-o-m).

For the 12 months through February, the PPI surged by 1.6 per cent, sharply accelerating from an upwardly revised 1.0 per cent advance (from +0.9 per cent) in the previous month. This marked the strongest annual increase since September 2023 (+1.8 per cent).

Economists had forecast the headline PPI would climb 0.3 per cent m-o-m and 1.1 per cent over the past 12 months.

According to the report, nearly two-thirds of the February rise in the headline index can be traced to a 1.2 per cent m-o-m surge in the index for final demand goods. In addition, the index for final demand services increased 0.3 per cent m-o-m.

Excluding volatile prices for food and energy, the PPI went up 0.3 per cent m-o-m and soared 2.0 per cent over 12 months. Economists had expected advances of 0.2 per cent m-o-m and 1.9 per cent y-o-y for February. In January, the core PPI demonstrated a 0.5 per cent m-o-m rise and a 2.0 per cent y-o-y climb.

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