U.S. Producer Price Index Unexpectedly Unchanged In February

(RTTNews) - With an increase in prices for goods offset by a decrease in prices for services, the Labor Department released a report on Thursday showing producer prices in the U.S. were unexpectedly flat in the month of February.

The Labor Department said its producer price index for final demand was unchanged in February after climbing by an upwardly revised 0.6 percent in January.

Economists had expected producer prices to rise by 0.3 percent compared to the 0.4 percent growth originally reported for the previous month.

The report also said the annual rate of growth by producer prices slowed to 3.2 percent in February from an upwardly revised 3.7 percent in January.

The annual rate of producer price growth was expected to dip to 3.3 percent from the 3.5 percent originally reported for the previous month.