Wholesale prices up just 0.3 percent in February 2017

WASHINGTON (AP) – Inflation at the wholesale level rose at just half the rate in February as the previous month, as a surge in energy prices slowed.

The Labor Department says its producer price index, which measures inflation pressures before they reach consumers, increased 0.3 percent in February following a 0.6 percent rise in January. Part of the slowdown reflected less of an increase in energy products, which rose 0.6 percent in February after jumping 4.7 percent in January.

Over the past 12 months, wholesale prices are up 2.2 percent, reflecting a steady rise in inflation as energy prices have increased. Just six months ago, the year-over-year increase stood at zero.

The Federal Reserve is meeting this week and is expected to boost a key interest rate, in part to reflect rising inflation.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s