Spiking energy leads wholesale prices up 0.5% in February

WASHINGTON (AP) — The rise in wholesale prices moderated a bit in February after a record increase in January with both months being hit with higher energy prices. The Labor Department reported Friday that its producer price index, which measures inflation before it reaches consumers. increased by 0.5% last month following a record jump of 1.3% in January. The smaller February gain came even though energy prices continued to surge, rising 6% last month after a 5.1% jump in January. Still, the smaller overall increase in February was likely to calm fears that inflation could be threatening to get out of control.