(RTTNews) - The UK National Statistical Office reported Monday that U.K.’s producer prices fell an unadjusted 0.6% in August due to a decline in the prices of petroleum and other manufactured products. The core output price index for August eased 0.1% on a seasonally adjusted basis compared to 0.3% growth expected by economists.

Annually, the output price index climbed 9.7% compared to a 10.3% increase in July.

The input price index declined 2% on a seasonally adjusted basis in August, a steeper drop than the 1.4% fall witnessed in the previous month. Meanwhile, the core input price index that excludes food, beverages, tobacco and petroleum industries rose 0.2% in August compared with 0.5% growth in July. Economists expected a 1.2% decline in the input price index.

In unadjusted terms, the input price index climbed 26% year-over-year, slower than the 29.3% increase in June.

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Posted in Categories: Economy, Releases, UK.

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