UK PPI Input Prices Monthly Rises after 3 Straight Months of Decreases - 10.8.2012
UK Producers Price Index for Input Prices rose by 1.3 per cent in July in monthly terms up from a revised 2.9 per cent decrease in June, while the PPI Input Prices annually fell by 2.4 per cent in July up from a revised 3 per cent decrease in June, according to the Office of National Statistics. The monthly PPI input prices increased less than the expected 1.5 per cent increase and annually dropped more than the forecast at 1.50 per cent decrease.
Furthermore, the monthly PPI increases for the first time after three consecutive months and that could be an early indication of consumer prices increase. Excluding food and energy prices the monthly PPI reduced by 0.2 per cent indicating that recent advancement of the Oil value could have raised the PPI input prices. Lastly, the British pound against the US dollar dropped today from 1.5637 to 1.5578.