US DATA: Feb PPI +1.6% above expectations of +0.7% and largest
increase since June 2009. Core +0.2% (+0.22792% unrounded) for +5.6% YOY
overall and +1.8% YOY core. Driving rise in overall index was finished
energy goods prices (+3.3%) – within that gasoline prices +3.7% – and
finished consumer foods (+3.9%). Food price surge highest since Nov ’74.
BLS says 20% of Feb rise in PPI core fueled by passenger cars (+0.6%).
Intermediate goods +2.0%, +1.1% excluding foods and energy. Crude goods
price index +3.4%.