UK producer prices down 0.5% in September - Breaking The News

UK producer prices down 0.5% in September

16 October

1 min read

EPA-EFE/ADAM VAUGHAN

The headline rate of inflation for goods coming out of factories in the United Kingdom in August went down 0.7%, the country's Office for National Statistics (ONS) revealed in its report on Wednesday. On an annual level, output producer prices fell 0.7%.

For their part, input prices were down 2.3% year-on-year, following a decrease of 1% in August. On a monthly basis, they decreased 1%. The fall in input prices was driven by crude oil, which saw a 23.3% annual drop, while service prices rose.

The services sector posted a 3.3% price increase between July and September, slightly up from the previous quarter. Sectors like accommodation and food services contributed most to the rise despite some moderation in price growth.

producer price index data ppi

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