Economy

Wholesale inflation climbed 0.8% in February, lower than estimate but still up 10% from last year

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Another surge in energy prices pushed wholesale goods prices to their biggest one-month jump on record in February, according to Labor Department data released Tuesday.

Final demand prices for goods jumped 2.4% for the month, the largest move ever in data going back to December 2009, the Bureau of Labor Statistics said.

That pushed the headline producer price index up 0.8% on the month, which actually was slightly lower than the 0.9% Dow Jones estimate.

Excluding food, energy and trade services, so-called core PPI rose just 0.2%, well below the 0.6% expectation.

On a year-over-year basis, headline PPI rose 10%, the same as January and tied for the biggest 12-month move ever.

The data came…



Source cnbc.com

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