Source: Bureau of Labor Statistics
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.