Output price ‘factory gate’ annual inflation for all manufactured products rose 3.3 per cent in the year to April 2012, compared with a rise of 3.7 per cent in the year to March 2012.
Month on month the output price measure for all manufactured products rose 0.7 per cent between March and April.
The ‘narrow’ output price measure, which leaves out volatile sectors, showed an annual rise of 2.3 per cent.
Changes announced in last month's budget are estimated to have added 0.3 per cent to the overall index value in April.
Input price annual inflation rose 1.2 per cent in April 2012, compared with a rise of 5.6 per cent in the year to March 2012. This is the first time that the annual growth rate for input prices was lower than the annual growth rate in output prices since October 2009, when the input price index rose 0.8 per cent and the output price index rose 1.5 per cent.
Month on month, the input price measure of UK manufacturers’ materials and fuels fell 1.5 per cent between March and April.
The ‘narrow’ input price measure rose 2.5 per cent in the year to April 2012. In seasonally adjusted terms the index rose 0.3 per cent between March and April.
Source: Office for National Statistics
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.
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).
The figures shown are not seasonally adjusted unless otherwise specified.
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: firstname.lastname@example.org
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:
Once statistics have been designated as National Statistics it is a statutory requirement that the Code of Practice shall continue to be observed.