Prices paid to U.S. producers rose strongly in February on higher costs of goods, underscoring inflationary pressures that set the stage for a Federal Reserve rate hike this week.

The producer price index for final demand increased 10% from February of last year and 0.8% from the prior month, Labor Department data showed Tuesday. That followed an upwardly revised 1.2% monthly gain in January.

The median forecasts in a Bloomberg survey of economists called for a 10% year-over-year increase and a 0.9% monthly advance.

Two-year Treasury yields extended declines and U.S. stock futures rose after the data showed producer prices rose less than expected on a monthly basis.

The data reflect the biggest monthly gain in the price of goods in data back to 2009, with two-thirds of the increase due to energy. Food prices were also up. It’s the latest indication of rapid inflation in the U.S., and prices are poised to accelerate further after Russia’s invasion of Ukraine sent prices of some raw materials to new highs.