UK DATA: Oct Producer Output Prices unch. m/m; +5.7% y/y
–Oct Core Output Prices -0.1% m/m; 3.4% y/y
–Oct Producer Input Prices -0.8% m/m; +14.1% y/y
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Factory gate prices were unchanged on the month and up 5.7% on the
year. The outturn was a little below the median forecast for a rise of
0.1% on the month and 5.9% on the year. It seems likely that September
was the peak in output price inflation this year, which has been fuelled
by rises in petroleum products, food and clothing and footwear. Oil
prices have eased in recent months and cotton prices have started to
fall. Core output prices fell 0.1% on the month with the annual rate
easing to 3.4% from 3.8% in October. Analysts had expected to see a rise
of 0.1% on the month and 3.6% on the year. Input prices were down 0.8%
m/m and up 14.1% y/y, below the median for a monthly fall of 0.4% and
annual rise of 14.4%, as crude oil and imported metals prices fell.
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