The Labor Department reported the U.S. producer-price index (PPI) inched up 0.1 percent m-o-m in February after an unrevised 0.1 m-o-m decrease in January. 

For the 12 months through February, the PPI surged 1.9 percent compared to a 2.0 percent jump recorded in the prior month. 

Economists had forecast the headline PPI would increase 0.2 percent m-o-m last month and 1.9 percent over the past 12 months. 

According to the report, the February advance in the final demand index can be traced to a 0.4-percent rise m-o-m in prices for final demand goods. Meanwhile, the index for final demand services was unchanged m-o-m.

Excluding volatile prices for food and energy, the PPI edged up 0.1 percent m-o-m and rose 2.5 percent over 12 months, missing economists’ forecasts for gains of 0.2 percent m-o-m and 2.6 percent y-o-y, respectively.