Annual rates of producer input, output inflation rise in UK in Sept

21 Oct '22

1 min read

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UK producer input prices rose by 20 per cent in the year to September 2022, down from 20.9 per cent in the year to August—its third consecutive monthly fall. Producer output (factory gate) prices rose by 15.9 per cent during the period, down from 16.4 per cent in the year to August. Monthly input and output prices rose by 0.4 per cent and 0.2 per cent respectively in September.

Crude oil and petroleum products contributed the most to the change in the annual rates of input and output inflation respectively, according to the Office of National Statistics (ONS).

The annual rate of input producer price index (PPI) has now been positive for 22 consecutive months. However, it has slowed for the third consecutive month and is down by 4.1 percentage points from the record high of 24.1 per cent in June this year.

The annual rate of output PPI has now been positive for 21 consecutive months, but has slowed for the second consecutive month.

The monthly rate of growth of producer output prices for apparel, textile and leather in September was 0.6, while the annual rate was 8.6.

ALCHEMPro News Desk (DS)

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