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Producer Price Index up 0.1 percent in February
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The Producer Price Index for Finished Goods advanced 0.1 percent in February, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This rise followed a 0.8-percent increase in January and a 1.9-percent decline in December. At the earlier stages of processing, prices received by manufacturers of intermediate goods decreased 0.9 percent in February after falling 0.7 percent in the previous month, and the index for crude materials declined 4.5 percent following a 2.9-percent decrease in January.
The slower rate of increase in finished goods prices was led by the index for energy goods, which rose 1.3 percent in February after climbing 3.7 percent in the preceding month. Capital equipment prices also moved up less, rising 0.1 percent after increasing 0.5 percent in January. The index for consumer foods fell 1.6 percent in February following a 0.4-percent decrease a month earlier. Conversely, partially offsetting the slower rate of increase in finished goods prices, the index for consumer goods other than foods and energy advanced 0.4 percent after rising 0.3 percent in the prior month. Following a 0.4-percent increase in January, the index for finished goods less foods and energy climbed 0.2 percent in February.
Posted: March 17, 2009 Tuesday 08:30 AM