2022.03.1512:38:00UTC+00U.S. Producer Prices Climb Slightly Less Than Expected In February

A report released by the Labor Department on Tuesday showed producer prices in the U.S. increased by slightly less than expected in the month of February.

The Labor Department said its producer price index for final demand climbed by 0.8 percent in February after surging by an upwardly revised 1.2 percent in January.

Economists had expected producer prices to advance by 0.9 percent compared to the 1.0 percent jump originally reported for the previous month.

Excluding prices for food, energy and trade services, core producer prices edged up by 0.2 percent in February following a 0.8 percent increase in January.