3/22, 8:01 AM (Source: TeleTrader)
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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.

Baha Breaking News (BBN) / AB