Producer prices down by record amount
Figures released today by the Office of National Statistics show that inflationary pressure are tailing off, with the announcement that producer prices fell 1% between September and October.
The output price index for home sales of manufactured products rose 6.8 per cent in the year to October, compared with a rise of 8.5 per cent in the year to September. The index fell 1.0 per cent between September and October, mainly reflecting falls in petroleum and other manufactured products.
The output price index excluding excise duties rose 7.0 per cent in the year to October. The index fell 1.0 per cent between September and October.
The output price index excluding food, beverages, tobacco and petroleum rose 4.9 per cent in the year to October. The index fell 0.5 per cent between September and October.
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