Factory gate prices of goods produced by the UK manufacturers increased 1.1 percent year-on-year in January 2020, following a 0.9 percent rise in December and above market expectations of 1 percent. This is the first time the producer inflation rate has picked up for two consecutive months since October 2018, as cost of petroleum products rose at the fastest pace since November 2018 (4.9% vs 0.1% in December). Also, prices advanced further for computer, electrical & optical products (1.5% vs 1.4%); food (0.9% vs 0.7%); and other manufactured products (0.9% vs 0.7%). In contrast, prices slowed for transport equipment (0.9% vs 1.7%); tobacco & alcohol (1% vs 1.25); and clothing, textiles & leather (0.8% vs 1.1%). Additionally, cost of chemical & pharmaceutical continued to fall (-1.7% vs -1.5%). On a monthly basis, output prices went up 0.3 percent, after a flat reading in December and above forecasts of a 0.1 percent rise.
Producer Prices Change in the United Kingdom averaged 5 percent from 1964 until 2020, reaching an all time high of 27.80 percent in January of 1975 and a record low of -1.90 percent in August of 2015. This page provides the latest reported value for - United Kingdom Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Office for National Statistics
Producer Prices Change in the United Kingdom is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in the United Kingdom to stand at 1.40 in 12 months time. In the long-term, the United Kingdom Producer Prices Change is projected to trend around 2.20 percent in 2021 and 1.90 percent in 2022, according to our econometric models.