1. Main points
Producer input prices fell by 2.5% in the year to March 2024, down from a revised fall of 2.2% in the year to February 2024.
Producer output (factory gate) prices rose by 0.6% in the year to March 2024, up from a rise of 0.4% in the year to February 2024.
On a monthly basis, producer input prices fell by 0.1% but output prices rose by 0.2% in March 2024.
Input and output price levels have been relatively stable since mid-2022 but remain substantially higher than their early 2021 levels.
Services producer prices rose by 3.6% in the year to Quarter 1 (Jan to Mar) 2024, up from a revised increase of 3.5% in the year to Quarter 4 (Oct to Dec) 2023.
This month's Services Producer Price Index (SPPI) estimates are being published with updated weights in line with the annual chain-linking methodology (see Section 6: Weights).
2. Producer price inflation rates
The annual inflation rate of the input Producer Price Index (PPI) fell to negative 2.5% in the year to March 2024, down from a revised negative 2.2% in the year to February 2024 (Figure 1). This was the 10th consecutive month the annual rate has been negative. The monthly input PPI fell by 0.1% in March 2024, after a revised rise of 0.3% in February 2024 (Table 1).
The annual inflation rate of the output (factory gate) PPI was 0.6% in the year to March 2024, up from 0.4% in the year to February 2024. This is the highest the rate has been since May 2023 (Figure 1). The monthly inflation rate was 0.2% in March 2024, down from 0.3% in February 2024 (Table 1).
Estimates for both February and March 2024 are provisional, and figures for the latest 12 months are subject to revisions as additional survey data are returned and validated. Effective response rates at time of first publishing can be found in Section 10: Strengths and limitations.
We are reviewing our range of outputs and publications for PPI statistics to better suit user needs. We would welcome feedback from users on their use of PPI statistics via our user engagement survey.
Figure 1: The annual input PPI inflation rate was negative in March 2024 while the annual output PPI inflation rate was positive
Input and output Producer Price Index (PPI) annual inflation rates, UK, March 2014 to March 2024
Source: Producer Price Index (PPI) from the Office for National Statistics
Download this chart Figure 1: The annual input PPI inflation rate was negative in March 2024 while the annual output PPI inflation rate was positive
Image .csv .xls
All materials and fuels purchased (GHIP) | All manufactured products (GB7S) | ||||||||
---|---|---|---|---|---|---|---|---|---|
Input PPI (2015= 100) | Monthly inflation rate | Annual inflation rate | Change in the annual inflation rate (percentage points) | Output PPI (2015= 100) | Monthly inflation rate | Annual inflation rate | Change in the annual inflation rate (percentage points) | ||
2023 | Mar | 152.2 | 0.2 | 7.0 | -5.2 | 136.2 | 0.1 | 8.4 | -3.3 |
Apr | 151.7 | -0.3 | 3.8 | -3.2 | 136.0 | -0.2 | 5.1 | -3.3 | |
May | 149.7 | -1.3 | 0.2 | -3.6 | 135.2 | -0.6 | 2.7 | -2.4 | |
June | 148.0 | -1.2 | -2.8 | -3.0 | 135.2 | 0.0 | 0.5 | -2.2 | |
July | 147.3 | -0.5 | -3.2 | -0.4 | 135.6 | 0.3 | -0.5 | -1.0 | |
Aug | 148.8 | 1.0 | -1.7 | 1.5 | 135.9 | 0.3 | -0.2 | 0.3 | |
Sept | 149.4 | 0.4 | -2.3 | -0.6 | 136.6 | 0.5 | 0.3 | 0.5 | |
Oct | 150.1 | 0.5 | -2.7 | -0.4 | 136.9 | 0.3 | -0.4 | -0.7 | |
Nov | 149.3 | -0.5 | -2.9 | -0.2 | 136.9 | 0.0 | -0.2 | 0.2 | |
Dec | 148.6 | -0.5 | -2.2 | 0.7 | 136.2 | -0.5 | 0.1 | 0.3 | |
2024 | Jan | 148.2 | -0.3 | -2.9 | -0.7 | 136.3 | 0.0 | -0.3 | -0.4 |
Feb | 148.6 | 0.3 | -2.2 | 0.7 | 136.7 | 0.3 | 0.4 | 0.7 | |
Mar | 148.5 | -0.1 | -2.5 | -0.3 | 137.0 | 0.2 | 0.6 | 0.2 |
Download this table Table 1: Producer prices, index values, inflation rates and percentage point changes to the annual inflation rate
.xls .csv
Figure 2: The input PPI level fell in March 2024 while the output PPI level rose
Input and output Producer Price Index (PPI) values, UK, March 2014 to March 2024
Source: Producer Price Index (PPI) from the Office for National Statistics
Download this chart Figure 2: The input PPI level fell in March 2024 while the output PPI level rose
Image .csv .xls3. Input producer price inflation
Producer input prices fell by 2.5% in the year to March 2024, down from a revised fall of 2.2% in the year to February 2024. Of the 10 product groups for input Producer Price Index (PPI), 5 made downward contributions to the annual inflation rate in March 2024. The largest of these came from inputs of chemicals, and inputs of other parts and equipment, which contributed negative 1.12 and 0.74 percentage points, respectively (Figure 3).
Chemical prices fell by 6.9% in the year to March 2024 (Table 2), with falls in the prices of "other organic basic chemicals", which survey respondents noted were the result of market dynamics (supply and demand) and falling gas prices.
Despite providing the second-largest downward contribution to the annual rate, prices for other parts and equipment increased by 0.1% in the year to March 2024 (Table 3). The downward contribution was caused by weight changes, which were introduced to the PPI last month. We provide more information in our Chain-linking in business prices article.
In comparison, the offsetting upward contributions were small (totalling 0.35 percentage points), with inputs of fuel and other inputs providing the largest of these, at 0.24 and 0.09 percentage points, respectively.
Figure 3: Chemicals provided the largest downward contribution to the annual inflation rate of input PPI
Input Producer Price Index (PPI), percentage point contributions to monthly and annual inflation rate, UK, March 2024
Source: Producer Price Index (PPI) from the Office for National Statistics
Notes:
Contributions to the rate may not add up to the rate exactly because of rounding.
Fuel covers electricity and gas (D35) and coal (B05) of the classification of products by activity (CPA 2.1).
Download this chart Figure 3: Chemicals provided the largest downward contribution to the annual inflation rate of input PPI
Image .csv .xls
February 2024 | March 2024 | |||
---|---|---|---|---|
Product group | Monthly inflation rate | Annual inflation rate | Monthly inflation rate | Annual inflation rate |
Beverages and tobacco | -1.0 | 0.4 | 1.0 | 0.1 |
Fuel | -0.3 | 8.0 | -3.6 | 4.1 |
Crude petroleum and natural gas; Metal ores | 5.7 | -0.9 | 0.4 | -0.1 |
Food (Domestic) | -0.3 | -1.9 | 0.1 | -2.5 |
Food (Imported) | -0.4 | 0.5 | -0.8 | -1.7 |
Other produced material | 0.5 | -2.7 | -0.1 | -2.3 |
Metals and non-metallic mineral products | -0.1 | -3.8 | -0.1 | -4.2 |
Chemicals | -0.2 | -7.1 | 0.5 | -6.9 |
Other parts and equipment | 0.2 | 0.0 | 0.2 | 0.1 |
Other inputs | 0.1 | 2.8 | 0.1 | 2.7 |
Manufactured products | 0.3 | -2.2 | -0.1 | -2.5 |
Download this table Table 2: Input producer prices, inflation rates
.xls .csvOf the 10 product groups for input PPI, 4 made downward contributions to the change in the annual inflation rate, with inputs of fuel providing the largest, at negative 0.21 percentage points (Figure 4). The annual inflation rate for this product group fell from 8.0% in February 2024 to 4.1% in March 2024.
Figure 4: Inputs of fuel provided the largest downward contribution to the change in the annual inflation rate of input PPI
Input Producer Price Index (PPI), percentage point contributions to change in the annual inflation rate, UK, March 2024
Source: Producer Price Index (PPI) from the Office for National Statistics
Notes:
1.Contributions to the rate may not add up to the rate exactly because of rounding.
Download this chart Figure 4: Inputs of fuel provided the largest downward contribution to the change in the annual inflation rate of input PPI
Image .csv .xlsThe prices of materials and fuels imported by UK manufacturing fell by 3.2% in the year to March 2024, which is up from a revised fall of 3.7% in February 2024. The monthly prices fell by 0.1% between February and March 2024, compared with a revised increase of 0.7% between January and February 2024. The fall in annual import prices is consistent with the stronger value of sterling, which rose by 5.8% in the year to March 2024 (Table 3).
Imported materials and fuels purchased (GD74) | Sterling effective exchange rate - month average (BK67) | |||||||
---|---|---|---|---|---|---|---|---|
Import PPI (2015=100) | Monthly inflation rate | Annual inflation rate | Change in the annual inflation rate (percentage points) | Sterling Index (Jan 2005=100) | Monthly rate | Annual rate | ||
2023 | Mar | 145.1 | -0.6 | 8.5 | -6.2 | 78.3 | 0.6 | -4.2 |
Apr | 143.7 | -1.0 | 5.2 | -3.3 | 79.3 | 1.3 | -2.4 | |
May | 141.7 | -1.4 | 1.1 | -4.1 | 80.1 | 1.0 | 0.3 | |
June | 139.7 | -1.4 | -2.6 | -3.7 | 81.7 | 2.0 | 3.0 | |
July | 138.6 | -0.8 | -3.1 | -0.5 | 82.6 | 1.1 | 4.7 | |
Aug | 140.7 | 1.5 | -2.2 | 0.9 | 82.3 | -0.3 | 4.1 | |
Sept | 143.8 | 2.2 | -4.0 | -1.8 | 81.4 | -1.1 | 6.7 | |
Oct | 144.9 | 0.8 | -3.8 | 0.2 | 80.5 | -1.1 | 4.6 | |
Nov | 143.0 | -1.3 | -2.8 | 1.0 | 81.1 | 0.7 | 3.8 | |
Dec | 140.3 | -1.8 | -2.5 | 0.3 | 81.8 | 0.9 | 3.5 | |
2024 | Jan | 139.7 | -0.5 | -4.0 | -1.5 | 82.3 | 0.6 | 5.1 |
Feb | 140.6 | 0.7 | -3.7 | 0.3 | 82.4 | 0.1 | 5.9 | |
Mar | 140.5 | -0.1 | -3.2 | 0.5 | 82.8 | 0.5 | 5.8 |
Download this table Table 3: Imported materials and fuels purchased and sterling effective exchange rate, index values, inflation rates and percentage point changes to the annual inflation rate
.xls .csv4. Output producer price inflation
Producer output (factory gate) prices rose by 0.6% in the year to March 2024, up from 0.4% in the year to February 2024. Of the 10 product groups for the output Producer Price Index (PPI), 7 made upward contributions to the annual inflation rate in March 2024. The largest of these came from refined petroleum products and other outputs, which contributed 1.99 and 1.04 percentage points, respectively (Figure 5).
Petroleum prices rose by 6.0% in the year to March 2024 (Table 4), the highest the rate has been since February 2023. This contribution was partly influenced by weight changes, with this product group increasing in weight from 6.1% in 2023 to 7.5% in 2024 (see Table 6 in our February 2024 statistical bulletin).
In comparison, offsetting downward contributions came from chemicals and paper products, at negative 1.82 and 1.19 percentage points, respectively. Chemical prices fell by 9.2% in the year to March 2024 (Table 4), with the main price falls coming from fertilisers.
Figure 5: Petroleum products provided the largest upward contribution to the annual inflation rate of output PPI
Output Producer Price Index (PPI), percentage point contributions to monthly and annual inflation rate, UK, March 2024
Source: Producer Price Index (PPI) from the Office for National Statistics
Notes:
- Contributions to the rate may not add up to the rate exactly because of rounding.
Download this chart Figure 5: Petroleum products provided the largest upward contribution to the annual inflation rate of output PPI
Image .csv .xls
February 2024 | March 2024 | |||
---|---|---|---|---|
Product group | Monthly inflation rate | Annual inflation rate | Monthly inflation rate | Annual inflation rate |
Food products | 0.1 | 0.5 | 0.1 | 0.2 |
Alcoholic beverages and tobacco products | -0.8 | 0.0 | 2.2 | 0.2 |
Textiles, wearing apparel and leather products | 0.1 | 4.5 | 0.4 | 3.6 |
Paper, paper products and printed material | -0.3 | -3.4 | -0.1 | -3.4 |
Coke and refined petroleum products | 3.7 | 1.8 | -0.2 | 6.0 |
Chemicals and pharmaceutical preparations | -0.9 | -9.6 | 0.7 | -9.2 |
Basic metals, fabricated metal products and machinery | 0.0 | 1.0 | 0.1 | 0.5 |
Computer, electronic and electrical products | 1.1 | 3.3 | 0.0 | 2.8 |
Motor vehicles and other transport equipment | 0.1 | 1.5 | 0.5 | 2.1 |
Other outputs | 0.3 | 2.5 | 0.0 | 2.0 |
Manufactured products | 0.3 | 0.4 | 0.2 | 0.6 |
Download this table Table 4: Output producer prices, inflation rates
.xls .csvOf the 10 product groups for output PPI, 4 made upward contributions to the change in the annual inflation rate, with refined petroleum products providing the largest, at 0.44 percentage points (Figure 6). The annual inflation rate for this product group rose by 4.2 percentage points, from 1.8% in February 2024 to 6.0% in March 2024.
Figure 6: Petroleum products provided the largest upward contribution to the change in the annual inflation rate of output PPI
Output Producer Price Index (PPI), percentage point contributions to the change in the annual inflation rate, UK, March 2024
Source: Producer Price Index (PPI) from the Office for National Statistics
Notes:
- Contributions to the rate may not add up to the rate exactly because of rounding.
Download this chart Figure 6: Petroleum products provided the largest upward contribution to the change in the annual inflation rate of output PPI
Image .csv .xls5. Services producer price inflation
The annual rate of inflation for services, excluding financial and insurance services, provided by UK companies, was 3.6% in Quarter 1 (Jan to Mar) 2024, up from a revised increase of 3.5% in the year to Quarter 4 (Oct to Dec) 2023. The annual rate has increased for the second consecutive month but is well below its recent peak (Figure 7).
Figure 7: The annual rate of inflation for the Services Producer Price Index (SPPI) has increased in Quarter 1 (Jan to Mar) 2024
SPPI, UK, Quarter 1 2014 to Quarter 1 2024
Source: Services Producer Price Index (SPPI) from the Office for National Statistics
Notes:
- Q1 refers to Quarter 1 (Jan to Mar), Q2 refers to Quarter 2 (Apr to June), Q3 refers to Quarter 3 (July to Sept) and Q4 refers to Quarter 4 (Oct to Dec).
Download this chart Figure 7: The annual rate of inflation for the Services Producer Price Index (SPPI) has increased in Quarter 1 (Jan to Mar) 2024
Image .csv .xlsThe quarter-on-quarter growth of services producer prices was 1.3% in Quarter 1 2024, up from 0.4% in Quarter 4 2023 (Table 5).
Headline SPPI (HQTI) | |||||
---|---|---|---|---|---|
SPPI (2015=100) | Quarterly inflation rate | Annual inflation rate | Change in the annual inflation rate (percentage points) | ||
2023 | Q1 | 119.1 | 1.2 | 5.2 | -0.3 |
Q2 | 120.9 | 1.5 | 4.8 | -0.4 | |
Q3 | 121.3 | 0.4 | 3.4 | -1.4 | |
Q4 | 121.8 | 0.4 | 3.5 | 0.1 | |
2024 | Q1 | 123.4 | 1.3 | 3.6 | 0.1 |
Download this table Table 5: Services producer prices, index values, inflation rates and percentage point changes to the annual inflation rate
.xls .csvThe largest upward contribution to the annual rate for Services Producer Price Index (SPPI) in Quarter 1 2024 came from accommodation and food services, at 3.35 percentage points (Figure 8). The annual rate for this product group in Quarter 1 2024 was 5.8%, down from 5.9% in Quarter 4 2023 (Table 6). This was mainly attributed to price increases in other food serving services.
The second-largest annual contribution came from administrative and support services, at 2.0 percentage points, with an annual inflation rate of 4.6%.
The contributions for these two product groups were partly influenced by weight changes, with both seeing increases in their weights from 2023 to 2024 (See Section 6: Weights).
The largest upward contribution to the quarterly rate came from professional, scientific and technical services, at 0.62 percentage points, with a quarterly price increase of 2.4%. Transportation and storage services provided the joint second-largest contribution to the quarterly rate, at 0.20 percentage points. Prices increased 1.3% on the quarter, with increases in the prices of “other transportation support services”, which a small proportion of survey respondents noted were a result of the Red Sea trade disruption.
Figure 8: Accommodation and food services made the largest upward contribution to the SPPI annual inflation rate
Services Producer Price Index (SPPI), contributions to quarterly and annual inflation rate, UK, Quarter 1 (Jan to Mar) 2024
Source: Services Producer Price Index (SPPI) from the Office for National Statistics
Notes:
- Contributions to the rate may not add up to the rate exactly because of rounding.
Download this chart Figure 8: Accommodation and food services made the largest upward contribution to the SPPI annual inflation rate
Image .csv .xls
Quarter 4 2023 | Quarter 1 2024 | |||
---|---|---|---|---|
Service group | Quarterly inflation rate | Annual inflation rate | Quarterly inflation rate | Annual inflation rate |
Maintenance and repair services of motor vehicles | 1.8 | 8.5 | 2.6 | 9.7 |
Transportation and storage services | 0.3 | -1.3 | 1.3 | 1.1 |
Accommodation and food services | 1.2 | 5.9 | 1.6 | 5.8 |
Information and communication services | 0.4 | 4.0 | 0.6 | 3.5 |
Real estate services | 0.7 | 1.8 | -1.9 | 0.1 |
Professional, scientific and technical services | -0.2 | 3.9 | 2.4 | 3.6 |
Administrative and support services | 0.8 | 4.6 | 0.5 | 4.6 |
Education services | 3.1 | 7.5 | 1.7 | 7.1 |
Other services | -0.1 | 9.1 | 3.2 | 7.5 |
All services, excluding financial and insurance services | 0.4 | 3.5 | 1.3 | 3.6 |
Download this table Table 6: Services Producer Price Index (SPPI), quarterly and annual inflation rates
.xls .csv6. Weights
This month's Services Producer Price Index (SPPI) is being published with updated sales data, in line with the annual chain-linking methodology. New weights are applied to the data from Quarter 4 (Oct to Dec) 2023, which is the link period (Table 7). Further details on the methodology are available in our Chain-linking in business prices article.
Weight | Rank | ||||
---|---|---|---|---|---|
Product group | 2023 | 2024 | Percentage point difference | 2023 | 2024 |
Professional, scientific and technical services | 26.9 | 25.1 | -1.8 | 1 | 1 |
Information and communication services | 22.6 | 21.4 | -1.2 | 2 | 2 |
Administrative and support services | 14.7 | 16.2 | 1.5 | 4 | 3 |
Transportation and storage services | 15.3 | 14.2 | -1.1 | 3 | 4 |
Accommodation and food services | 8.8 | 11.4 | 2.6 | 5 | 5 |
Real estate services | 5.8 | 5.3 | -0.5 | 6 | 6 |
Other services | 2.4 | 2.5 | 0.1 | 7 | 7 |
Maintenance and repair services of motor vehicles | 2.1 | 2.1 | 0.0 | 8 | 8 |
Education services | 1.4 | 1.8 | 0.4 | 9 | 9 |
Download this table Table 7: Services Producer Price Index (SPPI) weights and weight ranking comparison between 2023 and 2024
.xls .csv7. Producer price inflation data
Producer price inflation time series
Dataset | Released 17 April 2024
A comprehensive selection of data on input and output indices. Contains producer price indices of materials and fuels purchased and output of manufacturing industry by broad sector.
Output and input producer price inflation: contributions to the annual rates
Dataset | Released 17 April 2024
Contributions to the annual inflation rates of input and output producer price inflation by component and overall inflation rates.
Producer price inflation
Dataset MM22 | Released 17 April 2024
UK price movement data at all manufacturing, aggregated industry and product group levels. Data supplied from individual manufacturers, importers and exporters. Monthly, quarterly and annual data.
8. Glossary
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 turnover data.
Index value
Price level in a specific basket of goods.
Annual growth rate
The annual inflation rate.
Link factor
A smoothing factor applied to create a continuous series following a weights change.
Contribution
A measure of influence that the index has on the overall growth rate. This depends on both the magnitude of the weight and the inflation rate. A positive contribution is an index that is attributed to an increase in the annual growth rate value. Where the contribution is negative, but the growth is positive, this indicates that the index is reducing the annual growth rate (for example, the growth rate would be higher if this index had a lower weight).
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 that prices have fallen.
Input prices
The input price measures 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 output price (also known as the factory gate price) is the amount received by UK producers for the goods that they sell to the domestic market. 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.
Services producer price inflation
Quarterly estimates monitoring the changes in prices charged for services provided to UK-based customers for a range of industries.
Back to table of contents9. Measuring the data
Producer prices development plan
The Office for Statistics Regulation (OSR) quality report of the Producer Price Indices (PPI) was published in July 2023. The report notes the excellent progress made recently in bringing PPI in line with methodological best practice, but also highlights areas that need to be improved.
For further details, see the full OSR report.
Our Producer prices development plan was published in October 2023, detailing the work that will be undertaken over the next year to improve the quality of PPI data and continue to meet user needs.
The Producer Price Index
The Producer Price Index (PPI) uses contributions to identify how indices influence the overall inflation rate. This section gives additional information on the calculation and how to interpret it.
Example scenarios
The following gives examples of how weight and inflation rate changes most commonly affect the contribution. In PPI, the weights usually have greater influence on the contribution, as these tend to show greater change than the annual inflation rate:
decrease in weight, decrease in inflation rate – contribution is negative
decrease in weight, no change in inflation rate – contribution is negative
decrease in weight, increase in inflation rate – contribution is usually negative
no change in weight, decrease in inflation rate – contribution is usually negative
no change in weight or inflation rate – no change
no change in weight, increase in inflation rate – contribution is usually positive
increase in weight, decrease in inflation rate – contribution is usually positive
increase in weight, no change in inflation rate – contribution is positive
increase in weight, increase in inflation rate – contribution is positive
Contributions are calculated using the following formula:
Quality and methodology information (QMI) on strengths, limitations, appropriate uses, and how the data were created is available in our Producer price indices QMI and our Services Producer Price Inflation QMI.
Other useful documentation from the Office for National Statistics for the PPI and the Services Producer Price Index (SPPI) are:
Sterling effective exchange rate
The sterling effective exchange rate measures changes in the strength of sterling relative to baskets of other currencies. The sterling effective exchange rate is only indicative of the rates applied to producer prices. This is because the sterling effective exchange rate is a trade-weighted index that represents all UK trade, whereas producer prices reflect transactions in the manufacturing sector.
Data revisions policy
Figures for the latest two months are provisional, and the latest 12 months are subject to revisions because of late and revised respondent data. The PPI revision policy is now in line with that of the national accounts. Published information on our revisions policy and revisions triangles shows how estimates are revised over time.
Back to table of contents10. Strengths and limitations
Strengths
These data:
provide users with valuable insight into the changes in the prices of goods and services bought and sold by UK manufacturers
are comprehensive, covering many products at a much greater level of detail than other surveys
are internationally comparable with any country using the classification by product activity (CPA) or the central product classification (CPC) systems
are created using a rotational sampling method to enable many new products and new respondents to be included
are chain-linked annually to improve results in deflation by reducing substitution bias
Limitations
The limitations are that:
some products are produced by only a small number of manufacturers, meaning that there may not be enough manufacturers for a detailed and robust analysis, and the sector may be volatile, requiring some estimation
the data can be revised for 12 months
the data for the latest two months of the Producer Price Index (PPI) and two quarters of the Services Producer Price Index (SPPI) are provisional
Response rates in March 2024
The response rates for the domestic PPI, the Import Price Index (IPI) and the Export Price Index (EPI) all decreased between February and March 2024 (Table 8).
Weighted response | |||
---|---|---|---|
PPI (domestic) | IPI | EPI | |
March 2023 | 77.8 | 75.4 | 74.7 |
April 2023 | 78.9 | 79.3 | 74.6 |
May 2023 | 78.3 | 82.2 | 75.8 |
June 2023 | 76.1 | 80.4 | 77.7 |
July 2023 | 74.8 | 82.4 | 72.2 |
August 2023 | 79.0 | 83.9 | 77.3 |
September 2023 | 80.3 | 80.8 | 73.4 |
October 2023 | 81.0 | 81.3 | 75.0 |
November 2023 | 84.7 | 84.6 | 78.9 |
December 2023 | 82.0 | 85.0 | 77.6 |
January 2024 | 76.4 | 78.6 | 68.3 |
February 2024 | 83.1 | 82.8 | 80.3 |
March 2024 | 81.9 | 81.7 | 79.0 |
Download this table Table 8: Producer Price Index (PPI), Import Price Index (IPI) and Export Price Index (EPI) overall effective response rates at time of first publishing
.xls .csvThe response rate for the SPPI increased between Quarter 4 (Oct to Dec) 2023 and Quarter 1 (Jan to Mar) 2024 (Table 9).
Weighted Response SPPI | |
---|---|
2023 Q1 | 79.0 |
Q2 | 81.3 |
Q3 | 85.4 |
Q4 | 85.0 |
2024 Q1 | 87.9 |
Download this table Table 9: Services Producer Price Index (SPPI) overall effective response rates at time of first publishing
.xls .csv12. Cite this statistical bulletin
Office for National Statistics (ONS), released 17 April 2024, ONS website, statistical bulletin, Producer price inflation, UK: March 2024 including services, January to March 2024