RTTNews - Friday, the Office for National Statistics said U.K's output prices measure for all manufactured products rose 0.3% in July from June, reflecting rises in prices of other manufactured good, chemical and tobacco and alcohol products. Year-on-year, output prices slipped 1.3%. Economists were expecting a flat growth on a monthly basis and an annual decrease of 1.7%.
Core output prices, excluding volatile sectors showed an annual increase of 0.2% in July. Economists were expecting a 0.5% drop.
Due to a fall in the prices of crude oil, input prices were down 1.4% month-on-month and 12.2% annually. Input prices dropped more than the expected 0.8% monthly fall and an anticipated 10.9% annual decrease.
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