The price of goods leaving UK factories rose in March at its slowest rate for more than 18 months, said the Office for National Statistics (ONS).
Output prices rose by 2% over the year – the slowest annual rate of increase since July 2007 – compared with a rise of 3% seen in February. Output prices rose just 0.1% on a month-on-month basis.
The cost of materials going in to factories was down 0.4% on a year ago, compared with a 1.5% annual rise seen in February. The figures have raised expectations that inflation will slow, after the Consumer Prices Index saw a surprise rise to 3.1% in February.
“With manufacturing output collapsing, producers are passing the falls in costs on in their selling prices,” said Jonathan Loynes, chief European economist at Capital Economics. “Output price inflation fell from 3% to 2% and recent surveys of price expectations point to bigger falls in the coming months.”
Click Here: NRL Telstra Premiership
0 thoughts on “Slowdown manufacturing output”