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10/21/2020, 8:01 AM (Source: TeleTrader)
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UK producer prices decline 0.9% in September

The headline rate of inflation for goods coming out of factories in the United Kingdom stood at a negative 0.9% in the twelve months to September, the country's Office for National Statistics (ONS) said on Wednesday. The figure is unchanged from June and showed an annual drop in producer prices for the sixth consecutive month amid the coronavirus crisis.

The largest downward contribution to output annual inflation came from petroleum products, which had negative annual price growth of 19.7%. On a monthly basis, the output inflation rate stood at a negative 0.1%.

Meanwhile, the annual input inflation rate stood at a negative 3.7%, improving from a negative 5.6% in August but remaining in negative territory for the eighth consecutive month.

Breaking the News / NP