Bitcoin edged lower on Wednesday following the release of February wholesale data. The Bureau of Labor Statistics reported that the producer price index climbed 0.7% last month, exceeding economists’ expectations of 0.3%. The annual rate accelerated to 3.4%, matching the highest reading since February 2025 and signaling persistent inflationary pressures at the producer level. Core PPI, which strips out volatile food, energy, and trade services, increased 0.5% on a monthly basis, down from January’s 0.8% gain but still above the 0.3% consensus estimate. The measure has now risen for ten consecutive months, underscoring sustained cost pressures filtering through the supply chain. The February advance marked the largest monthly increase for final demand goods since August 2023, when prices jumped 1.6%. Food prices drove much of the acceleration, with the index for final demand foods surging 2.4% during the month. Fresh and dry vegetable costs alone soared 48.9%, accounting for more than a fifth of the overall goods increase. Energy costs also contributed to the upward pressure, with final demand energy prices advancing 2.3%. Diesel fuel climbed 13.9%, while gasoline and jet fuel posted notable gains. Processed energy goods at the intermediate level jumped 5.5%, the steepest rise since August 2023. Services prices rose 0.5% in February, extending gains for the third straight month. Traveler accommodation services led the advance with a 5.7% surge, followed by increases in food and alcohol wholesaling, securities brokerage and investment advisory fees, and long-distance motor carrying. The services component now stands 3.7% higher than a year ago, the fastest annual pace since October 2024. This is a developing story. Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy .