13 August 2001, 12:37  UK July producer input, output prices-OVERVIEW

--UK Jul unadj producer output prices -0.2% on mo; +0.1% on yr
--UK Jul adj core output prices unch on mo; +0.2% on yr
--UK Jul adj prod input prices -1.8% on mo; -0.3% on yr
--UK Jul unadj prod input costs -3.0% vs mo; -0.3% on yr
--UK July output price rise on yr weakest since Jan 1989
--ONS says UK Jul input price fall mainly on weaker crude

London, August 13 (BridgeNews) - Producer output prices unexpectedly fell in July while a sharp drop in crude oil prices meant manufacturers' input prices were also weaker than expected, according to figures released by the Office for National Statistics on Monday. Seasonally-unadjusted output prices fell 0.2% on the month, an annual rise of 0.1% on the year, while adjusted input prices fell 1.8% on the month and fell 0.3% on the year.
Analysts had forecast that output prices would be unchanged on the month and would rise 0.3% on the year, while input prices were expected to fall 1.0% on the month. Core output prices were marginally stronger than expected, being unchanged on the month and up 0.2% on the year, compared with forecasts of unchanged on the month and up 0.1% on the year. The ONS said the biggest impact on input prices was from the fall in the price of crude oil. There also appeared to be an unwinding of the inflationary impact of foot and mouth disease, with the price of animals for slaughter falling 2.9% from June.
Despite the variance from forecast, the figures are unlikely to have much impact on analysts' expectations for interest rate policy. End Copyright 2001 Bridge Information Systems Inc.

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