Producer price inflation, UK: January 2026

• Producer input prices fell by 0.2% in the year to January 2026, down from a revised rise of 0.5% in the year to December 2025.

• Producer output (factory gate) prices rose by 2.5% in the year to January 2026, down from a revised rise of 3.1% in the year to December 2025.

• On a monthly basis, producer input prices rose by 0.4% and producer output (factory gate) prices showed no movement in January 2026.

• The Import Price Index (IPI) fell by 0.6% in the year to January 2026.

• The Export Price Index (EPI) rose by 2.0% in the year to January 2026.

Producer input prices fell by 0.2% in the year to January 2026, which is down from a revised increase of 0.5% in the year to December 2025 (Figure 1). Monthly input prices rose by 0.4% in January 2026, up from a revised fall of 0.5% in December 2025 (Table 1).

Producer output (factory gate) prices rose by 2.5% in the year to January 2026, which is down from a revised increase of 3.1% in the year to December 2025 (Figure 1). Monthly output prices were unchanged in January 2026, which is up from a revised fall of 0.1% in December 2025 (Table 1).

The largest contribution to the annual input producer price inflation rate was a downward contribution from inputs of crude oil, where prices fell 23.8% over the past year.

The largest contribution to the annual output producer price inflation rate was an upward contribution from outputs of food products, where prices rose by 3.4% over the past year.

Of the 10 product groups for the input Producer Price Index (PPI), 2 made downward contributions to the annual inflation rate in January 2026. The largest of these came from inputs of crude oil.

The prices of inputs of crude oil fell by 23.8% in the year to January 2026, compared with a revised fall of 18.3% in the year to December 2025 (Table 2), though prices rose by 2.0% in the latest month. This product group also provided the largest contribution to change in the annual inflation rate between December 2025 and January 2026.

The largest offsetting upward contribution to the annual inflation rate came from inputs of metals and non-metallic mineral products. The prices of inputs of metals and non-metallic mineral products rose by 4.1% in the year to January 2026, compared with a rise of 3.3% in the year to December 2025 (Table 2). The annual price rise in January was partly caused by non-EU imports of precious metals and non-EU imports of other non-ferrous metal.

The Import Price Index (prices of materials and fuels imported by UK manufacturers) fell by 0.6% in the year to January 2026, down from a revised rise of 1.0% in the year to December 2025. On a monthly basis, prices rose by 0.1% in January 2026, down from a revised fall of 0.7% in December 2025. The Sterling index fell by 1.0% in the year to January 2026 and rose by 0.8% between December 2025 and January 2026 (Table 3).

Of the 10 product groups for the output Producer Price Index (PPI), 8 made upward contributions to the annual inflation rate in January 2026. The largest of these came from:

• outputs of food products

• outputs of motor vehicles and other transport equipment

Prices for food products rose by 3.4% in the year to January 2026, compared with a revised rise of 4.1% in the year to December 2025 (Table 4). The annual price rise in January was partly caused by processed and preserved meat.

Prices for motor vehicles and other transport equipment rose by 5.5% in the year to January 2026, compared with a revised rise of 6.4% in the year to December 2025 (Table 4).

The largest offsetting downward contribution to the annual inflation rate came from outputs of coke and refined petroleum products. Prices of coke and refined petroleum products fell by 8.4% in the year to January 2026, compared with a revised fall of 1.7% in December 2025. They also fell by 3.2% between December 2025 and January 2026. This product group also provided the largest contribution to change in the annual inflation rate between December 2025 and January 2026.

The Export Price Index rose by 2.0% in the year to January 2026, up from a revised rise of 1.5% in the year to December 2025. On a monthly basis, prices rose by 1.6% in January 2026, up from a revised fall of 0.7% in December 2025. The annual price rise in January was partly caused by exports of basic metals. For more information on export prices please see our Producer Price Indices (PPI) quality and methodology information (QMI).

Contribution

As the aggregate producer prices indices are built up from individual product indices, it is possible to decompose overall inflation into contributions from different products. Those contributions reflect both the inflation rates for each product and their weight in the index.

Input prices

The price of materials and fuels bought by UK manufacturers for processing. It includes materials and fuels that are either imported or sourced from within the domestic market. It is not limited to materials used in the final product but includes what is required by businesses in their normal day-to-day running, such as fuels.

Output prices

The amount received by UK producers for the goods that they sell to the domestic market, also known as factory gate prices. It includes the margin that businesses make on goods, in addition to costs, such as labour, raw materials and energy, as well as interest on loans, site or building maintenance, or rent.

Producer price inflation

Changes in the prices of goods bought and sold by UK manufacturers, including price indices of materials and fuels purchased (input prices) and factory gate prices (output prices). If the producer price inflation rate is a positive value, this indicates that prices have risen, while a negative value indicates prices have fallen.

Services producer price inflation

Quarterly estimates monitoring the changes in prices charged for services provided to UK-based customers for a range of industries.

Weight

This is the importance of the price of interest relative to other prices collected. With annual chain-linking, this is updated every year, using business sales revenue data.

For information on the strengths and limitations of the data, methods used, and the data uses and users, please see our Producer Price Indices (PPI) quality and methodology information (QMI) and our Services Producer Price Indices (SPPI) QMI.

Development of producer price statistics

We are continuing to improve the quality of these statistics to address the findings and requirements set out in the Office for Statistics Regulation's (OSR's) Spotlight on Quality: Producer Price Indices publication. Information on how we plan to address the OSR requirements can be found in our Producer prices development plan. Once the developments are complete, we will begin the process for seeking reaccreditation. These statistics are currently designated as official statistics.

Response rates

In January 2026, the response rates for the domestic PPI, Import Price Index (IPI) and Export Price Index (EPI) were all higher than they were in January 2025 (Table 5).