The cost of goods leaving Britain's factories edged up slightly in December from a month earlier, despite pressure on manufacturers from higher oil prices Producer prices rose by 0.1pc in December and were up 1.2pc on a year-on-year basis, National Statistics (NS) reported this morning The data indicates that manufacturers are struggling to pass on higher costs to their buyers amid weaker demand for their products. Input prices, the costs of raw materials and fuels to manufacturers, surged 3.2pc in December due to higher oil prices, increasing the pressure on the industry. Input prices were up 2.6pc from a year earlier, NS said "The rise in the input index between November and December largely reflected a 17.1pc rise in crude oil prices," the statistics office said. OPEC members agreed yesterday to increase its daily oil output by 1.5 million barrels in the hope of forcing prices lower; at 1000 in London, crude oil was down 26c, almost 1pc, at USD28.47 per barrel, down from close to USD31 earlier this month //www.fxcentre.com