The cost of living on the wholesale level ticked lower last month.
Figures released by the Bureau of Labor Statistics (BLS), show the Producer Price Index (PPI) for final demand, which measures the cost of things one step short of the consumer level, fell a seasonally adjusted 0.2% in February.
The PPI was up 0.1% in January and down 0.2% in December. For the last 12 months, the index is unchanged.
Goods and services
The cost of goods dipped 0.6% -- the third decline in a row. Most of that was the sharp 3.4% plunge in the price of energy. Food costs were down 0.3%. Excluding those two volatile categories, goods prices inched ahead 0.1%.
Services prices were unchanged in February after rising for three consecutive months. A rise of 0.3% for services excluding trade, transportation, and warehousing offset a 0.4% drop for trade services and a 0.7% decline in prices for final demand transportation and warehousing services.
The government's report on consumer inflation for February is scheduled for release tomorrow.
The complete report may be found on the BLS website.