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MNI BRIEF: UK April PPI Hits Record High

(MNI) London
(MNI) London
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UK factory gate prices surged by a record margin in April, suggesting even further rises to consumer inflation are likely in the months to come. Output PPI rose by 2.3% between March and April, the biggest rise on record, taking the annual rate to 14.0% from 11.9% in March. That’s the highest year-on-year rate since 2005.

Input prices jumped by 18.6, matching the downwardly-revised pace recorded in March (originally reported as +19.4%), the highest rate since records began in 1985. However, the input PPI rose by 1.1% between March and April, down from a 4.6% gain in March, the first monthly slowdown since December.

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UK factory gate prices surged by a record margin in April, suggesting even further rises to consumer inflation are likely in the months to come. Output PPI rose by 2.3% between March and April, the biggest rise on record, taking the annual rate to 14.0% from 11.9% in March. That’s the highest year-on-year rate since 2005.

Input prices jumped by 18.6, matching the downwardly-revised pace recorded in March (originally reported as +19.4%), the highest rate since records began in 1985. However, the input PPI rose by 1.1% between March and April, down from a 4.6% gain in March, the first monthly slowdown since December.