Economics
Producer Prices Jump Most Since 2018 in Hint of U.S. Inflation
- Increase of 2.8% reflected higher energy and food costs
- Costs climb for processed materials used in final production
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Prices paid to U.S. producers rose in February from a year ago by the most since October 2018, adding to evidence of mounting inflation in the production pipeline as the nation starts to emerge from the pandemic.
The producer price index for final demand advanced 2.8% from February 2020 after a 1.7% year-over-year gain in January, Labor Department figures showed Friday. The median estimate in a Bloomberg survey of economists called for a 2.7% increase. The PPI rose 0.5% from the prior month.