Year-to-Feb UK producer input prices drop 2.7%; output prices up 0.4%

21 Mar '24

1 min read

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UK producer input prices fell by 2.7 per cent in the year to February 2024—up from a revised fall of 2.8 per cent in the year to January.
Producer output prices rose by 0.4 per cent in the period—up from a 0.3-per cent fall in the year to January.
On a monthly basis, input prices fell by 0.4 per cent in February after January's rate of minus 0.1 per cent.

UK producer input prices fell by 2.7 per cent in the year to February 2024—up from a revised fall of 2.8 per cent in the year to January, according to the Office of national Statistics (ONS). This was the ninth consecutive month the annual rate has been negative.

On a monthly basis, producer input prices fell by 0.4 per cent in February after the rate in January was revised to minus 0.1 per cent.

Producer output (factory gate) prices rose by 0.4 per cent during the period—up from a revised fall of 0.3 per cent in the year to January. It has fluctuated between 0.5 per cent and minus 0.5 per cent for the last nine months and is at its highest level since June 2023.

The monthly inflation rate of factory gate prices rose to 0.3 per cent in February, after the rate in January was revised to show no movement.

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

Fibre2Fashion News Desk (DS)

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