US Producer Inflation Flat in February

Producer inflation was unchanged in February, driven mainly by the higher prices for high-demand goods during the month. QQQ is up 1.86%.

Annual producer inflation clocked in 10.0% in February, unchanged from January and faster than the 3.0% recorded in February 2021.
Monthly inflation slowed to 0.8%, down from 1.2% in the previous month but higher than the 0.7% recorded in the same month last year.
Prices of final demand goods jumped by 2.4%, while final demand services were unchanged. Monthly core producer inflation was 0.2%, with the annual print at 6.6%.
Nearly 40% of the increase in final demand goods was attributed to upward movements in gasoline, along with diesel fuel, electric power, jet fuel, motor vehicles, and equipment.
Final demand for transportation and warehousing services climbed by 1.9%, while final demand transportation and warehousing services jumped by 0.2%.
Downward movements were also recorded in indexes for food and alcohol retailing and vehicle wholesaling, transportation of passengers, and outpatient care.

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