It was the lowest producer inflation since August 2021, due to a slowdown in prices for manufacturing (10.9% vs 16.2% in January) and mining and quarrying (25.3% vs 24.3%).

Meanwhile, costs rose faster for water supply, sewerage, waste management and remediation activities (28.3% vs 17.1%) and electricity, gas, steam and air conditioning supply (62.1% vs 47.5%).

On a monthly basis, producer prices fell by 1.5%, reversing a 0.8% gain in January.