By Marcus Leach
Data released by the Office for National Statistics (ONS) today (Friday) revealed that UK producer prices fell unexpectedly in December, the first decline since June 2010, as inflationary pressures eased.
According to the data Factory gate prices declined 0.2% from November, which was against what analysts had expected.
A key figure, the price for petroleum products, fell 0.9% over the month. The price of benchmark crude oil fell 1.5% during December.
- In the year to December 2011 the output price index for home sales of manufactured products rose 4.8 per cent, compared with a rise of 5.4 per cent last month. This is the lowest annual rate since December 2010, when the index rose 4.2 per cent.
- Between November and December the output index for home sales of manufactured products fell 0.2 per cent. This is the first monthly fall since June 2010 when the index also fell 0.2 per cent.
- In the year to December 2011 the output price index excluding food, beverages, tobacco & petroleum rose 3.0 per cent.
- In the year to December 2011 the total input price index rose 8.7 per cent, compared with a rise of 13.6 per cent last month. This is the lowest annual rate since October 2010, when the index rose 8.5 per cent.
- Between November and December the total input price index fell 0.6 per cent.
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