|
US: PPI up 2.2% for the 12 months ended Feb., largest since Mar. 2012
The Producer Price Index for final demand increased 0.3% in February, final demand prices rose 0.6 % in January and 0.2 percent in December. On an unadjusted basis, the final demand index climbed 2.2% for the 12 months ended February 2017, the largest advance since a 2.4-percent increase in the 12 months ended March 2012, according to the official report released by the U.S. Bureau of Labor Statistics.
Key findings
- In February, over 80 percent of the advance in the final demand index is attributable to a 0.4 percent increase in prices for final demand services.
- In February, a major factor in the increase in prices for final demand services was the index for traveler accommodation services, which rose 4.3 percent
- Prices for final demand goods moved up 0.3 percent in February, the sixth consecutive rise.
- Over half of the broad-based February increase can be traced to the index for final demand energy, which advanced 0.6 percent.
- Nearly 70 percent of the February increase in prices for final demand goods is attributable to the index for electric power, which climbed 1.6 percent
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
More from Eren Sengezer
