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Washington, March 14 (Reporters Xu Yuan and Xiong Maoling) Data released by the U.S. Department of Labor on the 14th showed that the U.S. producer price index (PPI) rose 06% month-on-month in February, an increase of 03 percentage points from January, highlighting that the U.S. inflation situation remains severe.
Data showed that the U.S. PPI increased by 16% year-on-year in February, the largest increase since September 2023. Excluding food, energy and trade services prices, core PPI increased by 04% month-on-month and 28% year-on-year.
In the same month, commodity prices increased by 12% month-on-month, the largest increase since August 2023. Among them, natural gas prices rose 68%, and grocery prices rose 1%. At the same time, service prices increased by 03% month-on-month.
PPI tracks changes in production costs and is a key measure of inflation. Analysts believe that PPI accelerated again in February, indicating that inflationary pressures in the United States continue and the Federal Reserve may need to maintain high interest rates for a longer period of time.
A tracking data from the Chicago Mercantile Exchange showed that after the PPI data was released, the market basically believed that the Federal Reserve would maintain the target range of the federal funds rate between 525% and 55% at the monetary policy meeting held from March 19 to 20.