Factory gate prices of goods produced by the UK manufacturers fell 0.9 percent year-on-year in August 2020, unchanged from the previous two months and worse than market expectations of 0.7 percent fall. It was the fifth consecutive month of decrease in factory prices, due to a fall in prices of petroleum (-17.7 percent), dragged by diesel and gas oil (-14.3 percent). Other downward contributions came from chemicals & pharmaceuticals (-1.8 percent), paper & printing (-0.6 percent). Meanwhile, of the seven product groups that provided a positive contribution to the annual rate, the largest came from tobacco and alcohol (2.7 percent) and food products (0.8 percent). On a monthly basis, producer prices were unchanged, after a 0.3 percent rise in July and compared with market expectations of a 0.2 percent gain.
Producer Prices Change in the United Kingdom averaged 4.94 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. United Kingdom Producer Prices Change - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Office for National Statistics
Producer Prices Change in the United Kingdom is expected to be -1.20 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 1.20 in 12 months time. In the long-term, the United Kingdom Producer Prices Change is projected to trend around 1.60 percent in 2021 and 1.90 percent in 2022, according to our econometric models.