UK CPI up 4.6% in 12 months to Oct 2023; factory gate prices down 0.6%

Core CPI (excluding energy, food, alcohol and tobacco) rose by 5.7 per cent during that period, down from 6.1 per cent in September. The goods CPI annual rate fell from 6.2 per cent to 2.9 per cent.

Meanwhile, the annual producer price inflation rates have generally been negative since June 2023, with prices in some sectors falling.

The index levels for both input and output producer prices remain substantially higher than their 2021 levels, which is the last time producer price inflation was stable.

Producer input prices fell by 2.6 per cent in the year to October this year—down from a revised fall of 2.1 per cent in the year to September.

Producer output (factory gate) prices fell by 0.6 per cent during that 12-month period—down from a revised increase of 0.2 per cent in the year to September.

On a monthly basis, producer input prices rose by 0.4 per cent and output prices rose by 0.1 per cent in October this year.

ALCHEMPro News Desk (DS)