FXstrreet.com (Barcelona) - Prices at producer level posted a higher than expected increase in the United States in February fuelled by energy an food, according to the latest figures by the US Commerce Department.
Producer prices rose 1.0% in January from December, following a 0.3% decline in the previous month, revised down from the -0.1% previously released. Except food and energy, prices rose 0.4%, following a 0.2% increase in December.
On the year, prices increased 7.4%, following a 6.4% increase in December, January's year on year jump has been the largest since the 7.5% posted in October 1981.
The monthly increase was propelled by the 1.7% rise in food prices, which rose 1.4% on the previous month, and the 1.5% increase in energy prices, they were 3.0% down in December. Prices for intermediate goods increased 1.4%, after falling 0.2% in December, and prices for crude goods rose 2.5% in January, following a 1.1% increase in December.