U.K. July Output Price Inflation Slows Slightly

(RTTNews) - U.K. output prices rose 5% in July from the previous year, the Office for National Statistics said Friday. July's annual growth was bigger than the expected 4.9% increase, but down from prior month's 5.1%.

Month-on-month, output prices edged up 0.1%, reversing a 0.3% fall in June. Economists were expecting output prices to remain flat.

The input price index for materials and fuels purchased by manufacturing industry rose 10.8% in July from the prior year. Input price annual inflation was 10.7% in June. Consensus forecast was for 11.4%.
On a monthly basis, input prices dropped at a faster pace of 1%, following a 0.3% fall in the previous month. The fall in the input index between June and July mainly reflected falls in the price of crude oil, home produced food products and imported metals.