U.S. Producer Prices See Largest Rise Since Late 2018

Producer prices in the United States grew steadily last month, recording their largest increase in about two and a half years, data showed on Friday

The producer price index (PPI) increased by 0.5% in February, after rising by 1.3% in January, according to data by the U.S. Department of Labor Department.

On the annual level, the PPI rose by 2.8% in February, its highest increase since October 2018.

The surge in producer prices were largely attributed to the rise in energy prices by 6%.

Meanwhile, core PPI, which excludes food, energy, and trade services, rose by 0.2% on a monthly basis, and by 2.2% on an annual basis.