Wholesale Producer Price Index inflation stayed flat in February while economists surveyed by Dow Jones had expected a 0.3% increase. The Bureau of Labor Statistics said Thursday PPI inflation was 3.2% for the 12 months ended in February.

While the overall producer price index came in flat, prices for goods increased by 0.3% in February, while services costs declined by 0.2%. On an annual basis, the PPI increased by 3.2%, down from 3.7% a month earlier. The flat reading for February beat expectations of economists, who had forecast an increase of 0.3% for the month.

PPI went unchanged in February following considerable increases in January and December, driven by a decline in final demand services.