The price of goods leaving Britain's factories rose marginally in October, while input costs increased sharply due to higher oil prices. UK output prices rose 0.1pc in October from September and were up 1.4pc on a year-on-year basis, National Statistics said.
Input prices rose 0.8pc - exceeding the 0.6pc gain forecast - and were up 1.8pc from a year earlier. The sharp rise in the input index between September and October mainly reflected an 8.4pc jump in crude oil prices after OPEC unexpectedly cut its output quota at the end of the September, sending oil prices spiking as much as 20pc. UK input prices have risen three time in the past four months, partly reflecting the slightly weaker sterling against the euro.//www.fxcentre.com