UK DATA: Aug producer output prices unch. m/m; +4.7% y/y
–Aug core producer output prices +0.1% m/m; +4.6% y/y
–Aug producer input prices -0.5% m/m; +8.1% y/y
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Output prices were flat on the month in Aug with inflation easing
to 4.7% from 5%, the fourth consecutive month that inflation has
declined and the lowest since February. The outturn was a little below
the median. Rises in other manufactured and food products were offset by
falls in petrol, elec and transport. Core output prices were in line
with the median forecast showing a small rise m/m. Input prices fell
0.5% m/m, a slightly larger fall than the median for a 0.2% m/m drop.
Crude oil, fuel and imported parts and equip were down while home
produced food prices and chemicals rose. Overall producer price
inflation looks to have peaked in Apr.