In the US, producer prices remained below expectations with a 3.2% increase.

The US Department of Labor released the Producer Price Index (PPI) data for February. According to the data, PPI did not change in February compared to the previous month. The PPI, which was expected to increase by 0.3% during this period, had increased by 0.6% on a monthly basis in January. Producer prices increased by 3.2% on an annual basis in February. Market expectations were for producer inflation to be 3.3% on an annual basis in February. The annual increase in PPI was recorded as 3.7% in January. Core PPI, which excludes volatile food and energy prices, decreased by 0.1% on a monthly basis in February while increasing by 3.4% on an annual basis. It was expected that core producer inflation would be 0.3% on a monthly basis and 3.6% on an annual basis during this period. In January, Core PPI had increased by 0.5% on a monthly basis and 3.8% on an annual basis. PPI measures the prices of inputs used in production, providing clues about final product prices and headline inflation. The Federal Reserve in the US closely follows all inflation indicators, including PPI.