–Jun producer output prices -0.3% m/m; +5.1% y/y
–Jun core producer output prices -0.3% m/m; +4.8% y/y
–Jun producer input prices -0.2% m/m; +10.7% y/y
LONDON (MNI) – Producer output prices posted their first monthly
decline in more than a year and a half in June, helped by falling petrol
and scrap metal prices, figures released by National Statistics revealed
Friday.
Output prices fell 0.3% on the month in June and were up 5.1%
compared with a year earlier. This was the first monthly drop since
November 2008 and will be leapt on as a sign that price pressures at the
factory gate are easing.
Analysts had forecast that output prices would rise by 0.1% on the
month and by 5.7% on the year.
Petroleum product prices were down 1.6% on the month in June, the
largest monthly fall since January 2009. Other manufactured product
prices were down 1% on the month, due to a sharp fall in the price of
scrap metal. There was also downward pressure from food prices.
Core output prices which exclude food, beverages, tobacco and
petroleum also fell by 0.3% on the month and were up 4.8% on the year.
Analysts had expected to see a flat outturn on the month and an increase
of 5.1% on the year.
Input prices fell 0.2% on the month in June and were up 10.7% on
the year. The drop was broadly in line with the median forecast for a
fall of 0.4% on the month and an increase of 10.1% on the year.
Crude oil prices declined 1.8% on the month in June, although were
still some 22.4% higher than a year earlier.
Imported metal prices declined 2.6% on the month while food product
prices increased 6.9% between May and June the largest increase since
June 2008.
–London newsroom 4420 7862 7492 email: drobinson@marketnews.com
[TOPICS: MABDA$,M$B$$$,MT$$$$,MABDS$]
