U.S. producer prices increased 0.2% on a monthly basis in February, in line with expectations, and down from the 0.4% increase in January.
The U.S. Bureau of Labor Statistics attributed the increase to a 0.3% rise in prices for services. Prices for final demand goods fell for the first time since May 2017, decreasing by 0.1% from the previous month.
Excluding food, energy and trade services, producer prices were up 0.4% in February, the same increase as in January, but higher than Econoday's consensus estimate of a 0.3% increase.
On an unadjusted basis, the producer price index for final demand rose 2.8% for the 12 months ended February.
