Despite tariffs on China and other concerns about rising prices, two major inflation markers this week were lower than expected this week.
The U.S. Bureau of Labor Statistics released its producer price index on Thursday. This showed that PPI did not rise last month, but increased by 0.5% in December and 0.6% in January, despite a rise of 0.6%.
PPI rose 3.2% overall last year.
The outbreak of bird flu between chickens keeps egg prices high for months.
“Two-thirds of the February increase in the index of final demand products was attributed to chicken egg prices, jumping 53.6%,” BLS said. “The indexes of pork, fresh and dried vegetables, electricity, tobacco products and scrap carbon steel also moved high. Conversely, gasoline prices fell by 4.7%. The indexes of processed young chickens and primary basic organic chemicals also fell.”
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PPI data came shortly after the February consumer price index rose just 0.2% last month. It has been reported.
The decline in both CPI and PPI was heavily affected by lower gasoline prices.
BLS Break pricing for products and services.
“The February price decline of the final demand service by more than 40% was attributed to the margins of machinery and vehicle wholesale, which fell by 1.4%,” BLS said of PPI data.
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