FXstreet.com (Barcelona) - Wholesale prices have increased in February at a slower pace than in January, as pressures from food prices declined somewhat on the month, according to data released by the Labor Department.
From January to February, prices at producer level have risen 0.3%, a considerably slower rate than the 1.0% posted in January, the core PPI, however has accelerated to a 0.5% increase, from the 0.4% gain posted in January.
One of the contributors of for February's decline in the PPI has been the 0.5% fall in food prices, which increased 1.7% in January. Energy prices have risen 0.8% in February following a 1.5% rise in January.
On the year, finished goods prices have jumped 6.4%, with energy goods contributing largely with a 19.6% and food prices increasing 6.0% in the aforementioned period. Excluding food and energy, Producer Prices have grown 2.4% year-on-year.