U.S. producer prices increase 0.3 percent in February

[March 14, 2017]  WASHINGTON (Reuters) - U.S. producer prices moderated in February, but the trend pointed to a steady building up of inflation pressures.

Steel coils wait to be shrink wrapped and shipped to customers at the Severstal steel mill in Dearborn, Michigan June 21, 2012. REUTERS/Rebecca Cook

The Labor Department said on Tuesday its producer price index for final demand increased 0.3 percent last month after rising 0.6 percent in January.

In the 12 months through February, the PPI jumped 2.2 percent after rising 1.6 percent in January. Economists polled by Reuters had forecast the PPI edging up 0.1 percent last month and rising 2.0 percent year-on-year.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

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