US producer prices ease more than expected in February

By Mucahithan Avcioglu

ISTANBUL (AA) - Producer prices in the US rose 3.2% in February on a yearly basis, slowing down from an upwardly revised 3.7% rise in January, the Bureau of Labor Statistics said on Thursday.

The market expected the figure to come at 3.3% for the month.

"Two-thirds of the February increase in the index for final demand goods is attributable to prices for chicken eggs, which jumped 53.6 percent," it said.

"Conversely, prices for gasoline declined 4.7 percent. The indexes for processed young chickens and for primary basic organic chemicals also decreased," it added.

On a monthly basis, producer price index stood still, after a 0.6% rise in the previous month.

Market forecasts were a monthly increase of 0.3% in February.

On the other hand, the consumer inflation in the US slowed down more than expected in February, with an annual rate of 2.8%.

The markets expected the figure to come in at 2.9%, as tariffs increased the expectations for rising inflation in the country.