9 July 2001, 13:36 UK June producer input, output prices-OVERVIEW
--UK Jun unadj producer output prices +0.1% on mo; +0.4% on yr
--UK Jun adj prod input prices +0.1% on mo; +2.6% on yr
--UK Jun adj core output prices +0.1% on mo; +0.1% on yr
--UK Jun unadj core output prices +0.1% on mo; +0.2% on yr
--UK Jun unadj prod input costs +0.2% vs mo; +2.6% on yr
--UK Jun input prices slightly stronger than seen, output in line
--UK Jun output price rise on year lowest since Feb 1999
London, July 9 (BridgeNews) - The input and output prices of U.K.
manufacturers continued to slow in June as a result of lower crude oil
prices and food costs, although the slowdown was not quite as fast as
analysts had expected. Input prices rose an adjusted 0.1% from May and
were up 2.6% on the year, while output prices rose an unadjusted 0.1% from
May and 0.4% from a year ago. The output price rise was the lowest since
February 1999, but the figures are likely to have very little impact on
the interest debate in the U.K.
Analysts had forecast that input prices would actually fall 0.2% on
the month to produce a 2.4% annual rise, and predicted that output prices
would rise 0.1% on the month and 0.3% on the year.
Core output prices, which strip out the usually volatile effects of
food, beverage and tobacco costs, rose 0.1% on the month and 0.1% on the
year, in line with analysts' expectations.
The figures continue to exclude the impact on input prices of the
Climate Change Levy, a tax on large industrial users of energy. The ONS
said it still lacked sufficient data to make a reliable estimate of the
effect of the tax, but that a very provisional estimate was that it would
have added 1.0% to the input price index.
Prices of imported materials remained subdued, indicating that the
strength of the pound had also contributed to the low level of producer
price inflation.
The cost of all imported materials rose only 0.8% in the year to June,
compared with 2.1% in May and 5.4% in April.
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