PPI shows U.S. producer prices falling 0.1% in February
The numbers: U.S. wholesale prices fell 0.1% in February — the second decline in three months — hinting at some easing in stubbornly high inflation.
In January, producer prices were also revised down to show a much smaller 0.3% increase instead of 0.7% as originally reported. The initial report had added to the perception that inflation was not likely to slow quickly. Service inflation has risen sharply in the past year and is harder to reverse, making it a particularly big worry for the Federal Reserve.The more volatile cost of raw materials X% .
Big picture: The rate of inflation has slowed from a 40-year peak last summer. Yet prices are still rising too fast to mollify the Fed, never mind thousands of businesses and millions of households grappling with high inflation.
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