US producer prices edge past forecasts in February, amid surge in energy costs

Wholesale price pressures in the US edged past forecasts last month amid a spike in energy prices.

According to the Department of Labor, the headline rate of year-on-year increase in total final demand prices was steady versus the month before at 10.0% (Barclays Research: 9.8%).

In comparison to January however, the 0.8% month-on-month increase in prices was exactly as expected by economists at Barclays.

Food prices jumped by 1.9% versus January, alongside a 8.2% surge in those for energy.

On the services side of the equation, prices were flat, even as transportation and warehousing costs jumped by 1.9%.

-- More to follow --