In the US, producer prices remained below expectations with an increase of 3.2 percent.

The US Department of Labor announced the Producer Price Index (PPI) data for February. According to the data, the PPI did not change in February compared to the previous month. The PPI, which was expected to increase by 0.3 percent during this period, had risen by 0.6 percent on a monthly basis in January. Producer prices increased by 3.2 percent on an annual basis in February. Market expectations were that producer inflation would be 3.3 percent on an annual basis in February. The annual increase in the PPI was recorded at 3.7 percent in January. The core PPI, which does not include volatile food and energy prices, decreased by 0.1 percent on a monthly basis in February, but rose by 3.4 percent on an annual basis. It was predicted that the core producer inflation would be 0.3 percent on a monthly basis and 3.6 percent on an annual basis during the period in question. In January, the core PPI had increased by 0.5 percent on a monthly basis and 3.8 percent on an annual basis. The PPI provides clues about final product prices and headline inflation by measuring input prices used in production. The Federal Reserve in the US closely monitors all inflation indicators, including the PPI.