8 October 2001, 12:59  UK Sept input prices dn adj 1.0 pct from Aug; output

LONDON (FWN) - UK manufacturers' raw material costs fell a seasonally adjusted 1.0 pct in September which left them 6.0 pct below their September 2000 level, National Statistics said. According to the AFX News median of analysts' forecasts, producer input prices were expected to have fallen 0.5 pct on the month for a 4.9 pct year-on-year drop. NS said the annual fall was the largest since February 1999, when it fell by 6.5 pct. The fall mainly reflected a fall in the prices of imported metals, "other imported materials" and home produced food. Partially offsetting these falls were rises in gas and electricity prices. NS said crude oil prices rose 0.2 pct on the month, lopping 4.2 percentage points off the overall input price index. The latest rise in oil prices left them 20.3 pct down on the year. Tbe fall in the year to September was the largest since February 1999, when it fell by 25.9 pct. The core measure of input prices, which excludes oil prices along with the price of food, beverages, and tobacco, fell by 0.4 pct on the month leaving it 2.2 pct down on a year-on-year basis. Output prices of manufactured products were up 0.1 pct in September from the previous month, and were dn 0.2 pct from a year ago. Output prices were forecast to be unchanged on the month and down 0.2 pct year-on-year. NS said the fall in the year to September represented the largest annual fall since comparable records began in 1958. A rise in tobacco and food prices were the main factor behind the increase in input prices on the month. Tobacco prices (excluding duty) rose by 3.8 pct between August and September. The 0.2 pct rise in food price was mainly caused by a 1.3 pct rise in meat and poultry products. Core output prices -- that is excluding food, drink, tobacco and petroleum product prices -- were unchanged in the year to September. NS added this was the lowest since October 1999, which was also unchanged. On a seasonally adjusted basis in the latest month, core output prices were also unchanged. Core output prices were forecast to be unchanged on the month for a 0.2 pct year-on-year rise. Output prices, excluding excise duties, rose a seasonally adjusted 0.2 pct in September and were up 0.4 pct on their September 2000 level.

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