UK PPI input rose above expectations of 6.6% to 7.7% in the year ending January compared with the revised 8.9% from the initial 8.7%. On the monthly basis, the reading surged to 0.5% from the prior -0.6% and the expected 0.4%.

Annual output gauge exceeded estimates of 3.7% by 0.4% from the previous 4.8%. The month on month reading soared to 0.5% from the previous -0.2%, relative to market expectations of 0.1%.

PPI output core came in at 2.4% annually from the previous 3.0% and the estimated 2.3%, while the monthly reading edged up to 0.3% from the preceding -0.1% and the predicted 0.1%.