Factory gate inflation rises to 2.9%
In January, output price annual inflation for all manufactured products rose to 2.9 per cent from 2.4 per cent in December. Input price annual inflation fell from 18.1 per cent in December to 16.2 per cent in January.
Month on month, the output prices measure for all manufactured products rose 0.4 per cent in January, mainly reflecting a rise in petroleum products prices.
The 'narrow' output prices measure, which leaves out volatile sectors, showed an annual increase of 1.6 per cent. The seasonally adjusted prices measure rose 0.2 per cent between December and January.
Month on month, the input prices measure of UK manufacturers’ materials and fuels rose 1.9 per cent. This mainly reflected a rise in crude oil. In seasonally adjusted terms the index rose 1.8 per cent between December and January.
The 'narrow' input prices measure rose 10.4 per cent in the year to January. In seasonally adjusted terms the index rose 0.8 per cent between December and January.
Notes: Producer Price Indices monitor the price changes of goods bought and sold by UK manufacturers. Input prices are prices of materials and fuels bought and output prices, also known as 'factory gate prices', are prices at which goods are sold.
As well as output and input price indices, results are shown for 'narrow' indices, which are a subset which exclude more seasonal and erratic items (food, drink, tobacco and petroleum).
The figures shown are not seasonally adjusted unless otherwise specified.