The US producer price index, which tracks what America’s producers get paid for their goods and services on average over time, rose 10% for the 12-month period ended in February, not adjusted for seasonal swings, according to the Bureau of Labor Statistics.
That was a slightly faster pace of price increases than economists had predicted.
For January, 12-month price inflation was also revised up to 10%, from 9.7% initially reported, the first time the index hit double digits since the data series began in 2010.
Over the one-month time span, producer prices rose 0.8% in February, adjusted for seasonality, slightly less than forecast and below the January level.
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