UK producer price index (PPI) input rose to 7.3% in the year ended February compared with the revised 6.6% from the initial 7.0%, yet below forecasts of 7.0%. On the monthly basis, the reading surged to 2.1% from the prior 0.5%, which was downwardly revised to 0.1%, and the expected 1.0%.
Annual output gauge exceeded estimates of 3.0% by coming in at 4.1% where the prior reading was revised to 4.0% from 4.1% initially. The month on month reading soared to 0.6% from the previous 0.5%, revised down to 0.4%, and relative to market expectations of 1.0%.
PPI output core came in at 3.0% annually from the previous 2.4% and the estimated 2.5%, while the monthly reading edged up to 0.5% from the preceding 0.3% and the predicted 0.1%.