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Wholesale Inflation Moderates In February

U.S. wholesale prices rose slightly in February, roughly in line with the tepid growth seen in consumer prices.

Concerns about rapid inflation have been diminished by this week's price data.

On a monthly basis, the producer price index that measures wholesale inflation was up 0.2% following January's 0.4% increase. That's tepid but still more than the 0.1% growth expected by economists.

The 12-month rate of wholesale inflation edged up to 2.8%, but is down from a recent peak of 3.1%.

The Federal Reserve is likely to raise interest rates only three times in 2018, beginning with a modest rate hike later this month.

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