-Oct Producer Output Prices +0.1% m/m; +2.5% y/y
-Oct Core Producer Output Prices +0.1% m/m; +1.4% y/y
-Oct Input Prices +0.4% m/m; +0.1% y/y
LONDON (MNI) – Output price inflation remained stable in October as
increases tobacco and alcohol prices were offset by declines in petrol
product prices, figures from National Statistics showed Tuesday.
While input prices rose by a little more than expected the output
price figures were broadly as forecast and add little to the debate on
monetary policy. Overall output price inflation looks to have troughed
in July, but at 2.5% remains low by historical standards.
Output prices rose 0.1% on the month in October and were up 2.5%
on the year, unchanged from August. Analysts had expected a slightly
larger increase of 0.2% on the month and 2.6% on the year.
Core output prices were up 0.1% on the month and 1.4% on the year,
in line with the median forecast.
Tobacco and alcohol prices rose 0.5% on the month, while petroleum
product prices fell 0.4%.
Input prices rose 0.4% on the month in October and were up 0.1% on
the year. This was above the median forecast for a monthly drop of 0.1%
and fall of 0.5% on the year, although this is not a huge difference
given the erratic nature of the data.
Input prices were pushed up by higher fuel costs which rose 3.1% on
the month. There was also a 0.5% increase in imported parts and
equipment product prices.
Core input prices, which exclude food, beverages, tobacco and
petroleum products, weree up 0.1% on the month and down 0.3% on the
year on a seasonally adjusted basis.
–London bureau: 0044 20 7862 7491; email: puglow@marketnews.com
[TOPICS: M$B$$$,MABDS$]
