Producer prices in the U.S. unexpectedly edged slightly lower in the month of February, according to a report released by the Labor Department on Wednesday.
The Labor Department said its producer price index for final demand slipped by 0.1 percent in February after rising by a downwardly revised 0.3 percent in January.
Economists had expected producer prices to increase by 0.3 percent compared to the 0.7 percent advance originally reported for the previous month.
The report also showed the annual rate of growth by producer prices slowed to 4.6 percent in February from 5.7 percent in January. The year-over-year growth was expected to slow to 5.4 percent.
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