Produce prices rise for second-straight month

The Producer Price Index rose 0.3% in February for its second straight month of gains after a December loss of 0.3%, the Department of Labor reported today. The index for finished goods other than foods and energy moved up 0.5 percent after a 0.4% increase in January, the largest one month jump since a Nov. 2006 gain of 0.9% due to higher prices for cars, light trucks, pharmaceuticals and alcohol, the Department of Labor report said. The index for finished consumer foods fell 0.5% last month following a 1.7% increase for January which the Department of Labor attributes to a drop in food prices. The Producer Price Index data for March is scheduled to be released on April 15 at 8:30 a.m. eastern time.