Producer prices fell as expected in February, declining 0.2% from the prior month and coming in unchanged when excluding the more volatile costs of food and energy.
Expectations were for prices to fall 0.2% in February compared to the prior month and rise 0.1% over the prior year.
Excluding the more volatile costs of food and energy, prices were expected to rise 0.1% over last month and 1.2% over last year.
Economists at BNP estimate that healthcare services prices rose 0.15% in February, likely putting upward pressure on PCE inflation, which is more carefully watched by the Federal Reserve than the consumer price index, which will be released Wednesday morning.
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