WASHINGTON (dpa-AFX) - U.S. wholesale prices rose slightly in February, roughly in line with the tepid growth seen in consumer prices.
Concerns about rapid inflation have been diminished by this week's price data.
On a monthly basis, the producer price index that measures wholesale inflation was up 0.2% following January's 0.4% increase. That's tepid but still more than the 0.1% growth expected by economists.
The 12-month rate of wholesale inflation edged up to 2.8%, but is down from a recent peak of 3.1%.
The Federal Reserve is likely to raise interest rates only three times in 2018, beginning with a modest rate hike later this month.
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