British producer prices rise 0.4% last month

Economy 6/13/2018, 10:42 AM
British producer prices rise 0.4% last month

Factory gate inflation in the United Kingdom advanced to 2.9% in May from 2.5%, while the latter figure was revised by 0.2 percentage points down. The headline rate was the highest since December. Output prices grew 0.4% in the reporting month alone, the Office for National Statistics said on Wednesday and noted the measure was mended up by 0.1 points to 0.4% for April. Petroleum led the way in the annual reading, while all sectors contributed to the rise.

Input pace of growth reached the highest level since last June year over year – 9.2%, compared to 5.6% from the previous report or 0.3 points higher than initially estimated. Prices of materials and fuel used by factories jumped 2.8% in May alone, the most since July 2016, after an upwardly revised 0.6% for April.

The core yardstick for output prices showed monthly growth of 0.2% and an annual rate of a surprisingly low 2.1% compared to 0.2% and 2%, respectively, for the previous month. The measures for April were mended 0.1 points higher and 0.4 percentage points down, respectively.

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