UK DATA: (clarify) Feb producer output prices +0.5% m/m; +5.3% y/y
–Feb core producer output prices +0.1% m/m; +3.1% y/y
–Feb producer input prices +1.1% m/m; +14.6% y/y
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Output prices rose 0.5% m/m in Feb, a little below the median for
0.6% increase. Core producer prices were also below the median forecast
rising by only 0.1% m/m with inflation falling to 3.1% from 3.2% last
month. Analysts had forecast a rise of 0.4% m/m and 3.4% y/y. Headline
prices were boosted by petrol and food. Input prices also rise by a
little less than expected by 1.1% on the month against the 1.4% median,
mainly due to rising oil prices. With trouble in the gulf causing oil
price to spike higher in March, the input prices will likely be pushed
higher next month with further upward pressure on output prices coming
soon after from petrol products.