Factory gate prices of goods produced by UK manufacturers eased sharply to 5.4% year-on-year in April 2023 from a downwardly revised 8.5% in the previous month. It marked the lowest annual rate since July 2021, due mainly to the further decline in prices of petroleum products (-23.8% vs -11.6% in March), which provided the largest negative contribution of 1.21 percentage points. In addition, producer inflation slowed for most product groups, particularly food products (14% vs 15.5%), metal, machinery & equipment (5.9% vs 9.3%) and chemical & pharmaceutical (3.2% vs 7.3%). On a monthly basis, output producer prices stalled for the second month, following a revised flat reading in March. source: Office for National Statistics
Producer Prices Change in the United Kingdom averaged 5.17 percent from 1964 until 2023, reaching an all time high of 27.80 percent in January of 1975 and a record low of -7.30 percent in July of 2009. 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 June of 2023.
Producer Prices Change in the United Kingdom is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Producer Prices Change is projected to trend around 2.80 percent in 2024 and 2.00 percent in 2025, according to our econometric models.