In some good news, inflation, as measured by the producer price index, declined from 3.5% to 3.2% for the year ending in February. The numbers were released on Thursday by the Bureau of Labor Statistics and the decline is welcome news for the economy.

The Labor Department reported Thursday that its producer price index — which tracks inflation before it reaches consumers — was unchanged from January after rising 0.6% the month before. Compared to a year earlier, producer prices were up 3.2%, down from a year-over-year gain of 3.7% in January.