UK DATA: Dec Producer Output Prices -0.2% m/m; +4.8% y/y
–Dec Core Output Prices -0.1% m/m; +3.0% y/y
–Dec Producer Input Prices -0.6% m/m; +8.7% y/y
————————————————————————
Headline output prices fell by 0.2% on the month and were up 4.8%
on the year, down from 5.4% in the previous month. This was below the
median unchanged prices on the month and a rise of 4.9% on the year and
was also the first monthly decline in prices since June 2010. Output
price inflation hit a peak of 6.1% in July 2010, driven higher by rising
petrol and commodity prices but have been on a strong downward trend
since. Core output prices which exclude food, beverages, tobacco and
petroleum were down 0.1% on the month and up 3% on the year. This was
also below the median for no monthly change in prices and a rise of 3.2%
on the year. Input prices were down 0.6% on the month and up 8.7% on the
year, below the median for a monthly drop of 0.3% and rise of 8.9% y/y.