TELETRADER News
3/22, 8:01 AM
(Source: TeleTrader)
UK producer prices up 12.1% in February
The headline rate of inflation for goods coming out of factories in the United Kingdom in February came in at 12.1% year over year, the country's Office for National Statistics (ONS) revealed on Wednesday. The reading was lower than the 13.5% recorded last month. On a monthly level, output producer prices fell 0.3%.
The annual input inflation rate ran at 12.7% in the twelve months ending February, slightly going down from the January reading when the figure came in at 14.7%. Month over month the input producer prices were down 0.1%.
"Inputs of crude oil and petroleum products provided the largest downward contributions to the change in the annual rates of input and output inflation, respectively," the report noted.