Summary: Producer Price Index, July 2012

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 1.7 per cent in the year to July 2012, compared with a rise of 2.0 per cent in the year to June 2012.

Month on month the output price measure for all manufactured products was unchanged between June and July.

The ‘narrow’ output price measure, which leaves out volatile sectors, rose 1.3 per cent in the year to July 2012.

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 2.4 per cent in July 2012, compared with a fall of 3.0 per cent in the year to June 2012.

Month on month, the input price measure of UK manufacturers’ materials and fuels rose 1.3 per cent between June and July.

The ‘narrow’ input price measure fell 1.5 per cent in the year to July 2012. In seasonally adjusted terms the index fell 0.3 per cent between June and July.

Source: Office for National Statistics

Background notes

1. 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.

2. 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).

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

4. 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.

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