Business

Key inflation measure shows wholesale prices fell last month

A key measure of inflation fell dramatically in February, according to the latest Producer Price Index, which tracks what America's producers get paid for their goods and services.

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By
Lucy Bayly
, CNN
CNN — A key measure of inflation fell dramatically in February, according to the latest Producer Price Index, which tracks what America's producers get paid for their goods and services.

Producer price increases slowed to an annual pace of 4.6% last month, significantly down from 6% in January, the Labor Department reported Wednesday. February prices fell by 0.1% after rising 0.7% in January.

Economists surveyed by Refinitiv had been expecting the 12-month rise in wholesale prices to slow to a 5.4% increase.

This story is developing and will be updated.

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