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UK DATA: Manufacturing PMI hints at further core goods price increases in CPI

UK DATA
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  • Not a huge amount of extra detail in the manufacturing PMI press release vs the flash. A little more colour on prices - and being passed on through higher selling prices. Note that core goods prices within the CPI in the UK have moved into positive territory Y/Y the past couple of months, so that pattern looks set to continue. From the press release:
  • "September saw average input prices rise at the quickest pace since January 2023. A wide range of materials were still reported as up in price, many of which as a result of increased freight prices. Part of this was due to the re-routing of supply chains away from the Red Sea, which also led to a lengthening of lead times from suppliers for the ninth month in a row. Higher costs were passed on to some clients in the form of increased selling prices."
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  • Not a huge amount of extra detail in the manufacturing PMI press release vs the flash. A little more colour on prices - and being passed on through higher selling prices. Note that core goods prices within the CPI in the UK have moved into positive territory Y/Y the past couple of months, so that pattern looks set to continue. From the press release:
  • "September saw average input prices rise at the quickest pace since January 2023. A wide range of materials were still reported as up in price, many of which as a result of increased freight prices. Part of this was due to the re-routing of supply chains away from the Red Sea, which also led to a lengthening of lead times from suppliers for the ninth month in a row. Higher costs were passed on to some clients in the form of increased selling prices."