The Producer Price Index (PPI) for final demand remained unchanged in February, seasonally adjusted, according to the U.S. Bureau of Labor Statistics.
This follows increases of 0.6% in January and 0.5% in December 2024.
On an unadjusted basis, the final demand index rose 3.2% over the past 12 months. In February, a 0.3% increase in final demand goods prices offset a 0.2% decline in final demand services.
The final demand index excluding food, energy, and trade services increased by 0.2% in February, following a 0.3% rise in January. Over the past year, core PPI advanced 3.3%.
Source: U.S Bureau of Labour Statistics
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Rising oil prices renewed inflation concerns as uncertainty surrounding the US-Iran conflict and continued disruptions in the Strait of Hormuz reinforced expectations for further monetary tightening.
Elevated oil prices and rising Treasury yields weighed on precious metals as persistent geopolitical tensions reinforced inflation concerns and expectations for further Federal Reserve tightening.
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