UK producer prices up 0.2% in April - Breaking The News

UK producer prices up 0.2% in April

22 May

1 min read

UNSPLASH.COM/AURELIEN ROMAAIN

The headline inflation rate for goods coming out of factories in the United Kingdom rose by 0.2% in April, the country's Office for National Statistics (ONS) said in its report published on Wednesday. Compared to the same month in 2023, the figure advanced by 1.1%.

Meanwhile, producer input prices increased by 0.6% compared to March and 1.6% year-on-year.

Out of the ten product groups included in the Producer Price Index (PPI), six showed increases in the annual inflation rate in April 2024. The highest contributions came from refined petroleum products and other outputs, contributing 2.46 and 1.02 percentage points, respectively. In the same reported month, the input producer price inflation was influenced by ten product groups, of which four made downward contributions to the annual inflation rate.

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