UK year-to-Jan producer input prices fall 3.3%, output prices dip 0.6%

16 Feb '24

1 min read

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UK producer input prices fell by 3.3 per cent in the year to January, down from a revised 2.1-per cent fall in the year to December.
Producer output prices fell by 0.6 per cent during the period, down from a rise of 0.1 per cent in the year to December.
On a monthly basis, input and output prices fell by 0.8 per cent and 0.2 per cent respectively in January.

UK producer input prices fell by 3.3 per cent in the year to January 2024, down from a revised fall of 2.1 per cent in the year to December 2023, according to the Office of National Statistics (ONS).

The annual inflation rate of the input producer price index (PPI) was negative for the eighth consecutive month and the lowest it has been since May 2020.

Producer output (factory gate) prices fell by 0.6 per cent in the year to January 2024, down from a rise of 0.1 per cent in the year to December 2023.

On a monthly basis, producer input prices fell by 0.8 per cent and output prices fell by 0.2 per cent in January this year.

Input and output price levels have been relatively stable since mid-2022, but remain substantially higher than their 2021 levels.

The index levels for both input and output prices have remained relatively stable since mid-2022.

Fibre2Fashion News Desk (DS)

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