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Summary of Producer Price Inflation, February 2014

Released: 25 March 2014 Download PDF

Figure A: Output prices

Figure A: Output prices
Source: Index Numbers of Producer Prices (PPI): Provision of Price Information - Office for National Statistics

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Output price ‘factory gate’ annual inflation for all manufactured products rose 0.5% in the year to February, compared with a rise of 0.9% in the year to January.

Month on month the output price measure for all manufactured products saw no movement between January and February, compared with a rise of 0.3% between December 2013 and January 2014.

The ‘narrow’ output price measure, which leaves out volatile sectors, rose 1.1% in the year to February, compared with a rise of 1.2% in the year to January.


 

Figure B: Input prices (materials & fuel) manufacturing industry

Figure B: Input prices (materials & fuel) manufacturing industry
Source: Index Numbers of Producer Prices (PPI): Provision of Price Information - Office for National Statistics

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Input price annual inflation fell 5.7% in the year to February, compared with a fall of 2.9% in the year to January.

Month on month, the input price measure of UK manufacturers’ materials and fuels, fell 0.4% between January and February, compared with a fall of 0.9% between December 2013 and January 2014.

The ‘narrow’ input price measure fell 5.3% in the year to February. In seasonally adjusted terms there was a fall of 1.1% between January and February.


 

Source: Office for National Statistics

Background notes

  1. PPIs were published on the new 2010=100 basis from October 2013. More information concerning the impact of rebasing is analysed in the article Producer Price Index Rebasing 2010=100 which was published at the same time.

  2. Producer Price Indices monitor the price changes of goods bought and sold by UK manufacturers. Input prices are prices of materials and fuels bought and output prices, also known as ‘factory gate prices’, are prices at which goods are sold.

  3. As well as output and input price indices, results are shown for ‘narrow’ indices, which are a subset which exclude more seasonal and erratic items (food, drink, tobacco and petroleum).

  4. The figures shown are not seasonally adjusted unless otherwise specified.

  5. Details of the policy governing the release of new data are available by visiting www.statisticsauthority.gov.uk/assessment/code-of-practice/index.html or from the Media Relations Office email: media.relations@ons.gsi.gov.uk

    The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Official Statistics.

    Designation can be broadly interpreted to mean that the statistics:

    • meet identified user needs;
    • are well explained and readily accessible;
    • are produced according to sound methods; and
    • are managed impartially and objectively in the public interest.

    Once statistics have been designated as National Statistics it is a statutory requirement that the Code of Practice shall continue to be observed.

Further information

Producer Price Index (PPI) User Guidance and Methodology - Collection of documents containing guidance on Producer Price Index (PPI) statistics


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