PPI Mar. 2024 release February 2024 Data

The BLS has released the February, 2024 Producer Price Index Report.  (historical releases)

The Producer Price Index for final demand rose 0.6 percent in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices increased 0.3 percent in January and edged down 0.1 percent in December 2023. (See table A.) On an unadjusted basis, the final demand index advanced 1.6 percent for the 12 months ended in February, the largest rise since moving up 1.8 percent for the 12 months ended September 2023.

In February, nearly two-thirds of the rise in final demand prices can be traced to the index for final demand goods, which advanced 1.2 percent. Prices for final demand services moved up 0.3 percent.

The index for final demand less foods, energy, and trade services increased 0.4 percent in February after rising 0.6 percent in January. For the 12 months ended in February, prices for final demand less foods, energy, and trade services moved up 2.8 percent.

Current graph with revisions...

Then there is this chart, which briefly compares the category to previous month's annual rate.

So the report was deemed as troubling, as it will be passed on to the consumer. No doubt inflation is not down to the level sought, but not a rapid acceleration. More of tepid acceleration in my opinion.