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Saturday 22nd of January 2011
October 8, 2010    

UK producer prices rise higher than forecast

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by Kay Murchie

The Office for National Statistics (ONS) today revealed producer input prices increased 0.7% in September compared with August, pushing the annual rate to 9.5%, from 8.7% the previous month.

The figure was much higher than forecasts of a 0.4% monthly rise and an annual rate of 8.6%.

Meanwhile, annual output price inflation slowed less than expected to 4.4% in September, from 4.7% in August.

According to the ONS, raw material costs have soared - due to higher wheat prices, which have risen sharply due to a drought in Russia - a major producer of wheat.

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