-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
LONDON (MNI) – 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 2.2 percentage points
off the monthly move. Output prices fell 0.2% on the month, with the
data highlighting the rapid diminution of pipeline inflation.
The 2.5% monthly fall in input prices was the largest since
December 2008 and left input prices up just 0.1% on the year, the lowest
annual rate since September 2009.
After oil, the next largest contributor to the monthly move was
imported metals, which knocked 0.21 percentage point off, falling 2.7%
on the month.
On the output price side, the yearly change dipped to 2.8% in May
from 3.2% in April.
Petrol prices had by far the largest downward effect, knocking 0.31
percentage points off the monthly rate.
-London bureau: 0044 20 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,MABDS$]
