UK DATA: May Input Prices Plunge Due To Oil; Output Prices Dip
-UK May producer output prices -0.2% m/m; +2.8% y/y
-UK May core output prices unchanged m/m; +2.1% y/y
-UK May producer input prices -2.5% m/m; +0.1% y/y
-NS: Crude oil knocked 2.2pp off 1 month change in input prices
-NS: Petrol knocked 0.3pp off 1 month change in output prices
-NS: Y/Y core output prices lowest since jan 2010
-NS: Y/Y input prices lowest since Sep 2009
-UK May input, output, core output all below median forecasts
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A sharp fall in oil prices drove UK input down in May, forcing
the yearly rate down to its lowest level since September 2009. Input
prices fell 2.5% on the month, with the drop almost entirely due to the
fall in crude oil prices, which knocked 2.2pp off the m/m rate.