Producer Price Index Gains 0.3%

Prices paid to U.S. producers rose 0.3% in February, the Labor Department said Tuesday.

The monthly gain for the producer price index followed a 1% gain in January.

The gain was below economists’ forecast of a 0.4% increase, Bloomberg reported.

The so-called core PPI excluding food and energy rose 0.5%, more than double economists’ forecasts, Bloomberg said.

An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it could also hurt the economy.