US Producer Prices Unexpectedly Fall, Signaling Easing Pressures
- Final demand index dropped 0.1% in February; est. 0.3% gain
- Slump in egg costs accounted for over 80% of pullback in goods
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US producer prices unexpectedly declined in February after downward revisions to the prior month, pointing to an easing of cost pressures in corners of an economy still battling the highest inflation in a generation.
The producer price index for final demand fell 0.1% from the prior month and increased 4.6% from a year earlier, according to data out Wednesday from the Bureau of Labor Statistics. Excluding the volatile food and energy components, the so-called core PPI was unchanged from a month earlier.