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.

Wholesale prices were unchanged in February, offering more evidence that inflation pressures eased somewhat early in the new year.

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.