UK producer prices decline 0.6% in November - Breaking The News

UK producer prices decline 0.6% in November

18 December

1 min read

EPA-EFE/NEIL HALL

The headline rate of inflation for goods coming out of factories in the United Kingdom in November dropped 0.6% year-on-year, the country's Office for National Statistics (ONS) revealed on Wednesday. Compared to the previous month, the figure rose by 0.3%.

Namely, the decrease in the output inflation rate was linked to the falling prices of coke and refined petroleum products which plunged by 23.2% in the reported month. In November, monthly input producer prices were unchanged, while the annual input inflation rate dropped by 1.9%.

The largest downward contributors to the annual input producer prices were from inputs of crude oil which plummeted by 14.1% in the year to November 2024.

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