Factory gate prices of goods produced by the UK manufacturers fell 0.7 percent year-on-year in April of 2020, more than market expectations of a 0.4 percent drop. It is the first fall in factory prices since June of 2016 and the highest since March of 2016, with petroleum products making the largest downward contribution ( prices down 20.2 percent) as international oil prices plunged to historical low levels during the month of April. Other downward pressure came from chemicals and pharmaceuticals (-1.8 percent). On a monthly basis, the rate of output inflation was negative 0.7 percent. Regarding the coronavirus impact on factory gate prices, the closure of workplaces and premises during April has led to the response rate being lower at 66.9 percent compared with 80.5 percent in February 2020.
Producer Prices Change in the United Kingdom averaged 4.97 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 May 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 1.80 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.