Final demand PPI rose by 0.2% in February, slightly faster than expected, with a 0.2% gain outside of food and energy prices.
An analysis of MNI survey data showed no clear forecast risk for the February data.
The personal consumption price measure in the data, which some analysts use as a preview measure for PCE price index, rose by 0.2% and was up 0.4% ex. food and energy and still up 0.4% also excluding trade services, suggesting a modest upside risk to the PCE inflation data.
Energy prices fell 0.5% in the month, with gasoline prices down 1.6%. However, residential natural gas prices rose 3.7%. Food prices were down 0.4%.
Trade services prices fell 0.2% in the month, while the core rate the BLS prefers, excluding the change in trade services as well as food and energy, was up 0.4% in February.
The year/year rates for these measures indicated some overall acceleration. Overall PPI was up 2.8% year/year in February after a 2.7% year/year rise in January.
At the same time, the year/year rate for PPI excluding food and energy rose to 2.5% from 2.2% in January and the year/year rate for PPI excluding food, energy and trade services rose to 2.7% from 2.5%.
