US Wholesale Prices Rose 0.5 Percent in February as Energy Costs Spike

A shopper looks over meat products at a grocery store in Dallas, Texas, on April 29, 2020. LM Otero/AP Photo

WASHINGTON—Energy prices continued to rocket higher in February, although overall wholesale prices moderated after a record jump in January.

The Labor Department’s producer price index, which measures inflation before it reaches consumers, increased by 0.5 percent last month following a record jump of 1.3 percent the month before.