The headline inflation rate for goods coming out of factories in the United Kingdom saw a monthly rise of 0.2% in March, 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 0.6%.
Meanwhile, producer input prices decreased by 0.1% compared to February and 2.5% year-on-year.
Seven out of ten products within the index contributed to the increase of the annual inflation rate. The largest contribution to the rise in output prices came from petroleum products and other outputs, which saw annual expansions of 1.99% and 1.04%, respectively. Meanwhile, chemical prices were the ones that mostly dragged input prices down, dropping by 6.9% compared to March 2023.