India, March 14 -- A report released by the Labor Department on Thursday showed producer prices in the U.S. increased by much more than expected in the month of February.
The Labor Department said its producer price index for final demand climbed by 0.6 percent in February after rising by 0.3 percent in January. Economists had expected producer prices to rise by another 0.3 percent.
The report also said the annual rate of producer price growth accelerated to 1.6 percent in February from a revised 1.0 percent in January.
Economists had expected the year-over-year price growth to rise to 1.1 percent from the 0.9 percent originally reported for the previous month.
The stronger than expected monthly producer price growth partly reflected a ...