U.S. Wholesale Prices up 0.7 Percent in February

WASHINGTON, Mar.15 -- U.S. wholesale prices in February rose by the most in five months due to energy price increases, the U.S. Labor Department reported Thursday.

The Producer Price Index, which measures price changes at factory gates, rose 0.7 percent last month on seasonally adjusted basis, the second monthly increase in a row.

Energy prices went up 3 percent last month, after a decrease of 0.4 percent in January. Gas price accounted for most of the advance, jumping 7.2 percent.

Food costs dropped 0.5 percent after a 0.7 percent gain in January.

Excluding the volatile food and energy sectors, the so-called "core" wholesale prices edged up 0.2 percent last month from January, which indicated the general inflation pressure is still tamed.

The wholesale prices rose 1.7 percent over the past 12 months ending February.