Summary for Producer Price Index, February 2014
Table of contents
- • 0.5% increase in output price index for goods produced by UK manufacturers
(factory gate prices) in the year to February - • Factory gate prices saw no movement between January and February
- • Core factory gate prices rose 1.1% in the year to February
The output price indices measure change in the prices of goods produced by UK manufacturers (these are often called 'factory gate prices').
The input price indices measure change in the prices of materials and fuels bought by UK manufacturers for processing. These are not limited to just those materials used in the final product, but also include what is required by the company in its normal day to day running.
Output price ‘factory gate’ annual inflation for all manufactured products rose 0.5% in the year to February, compared with a rise of 0.9% in the year to January. Month on month the output price measure for all manufactured products saw no movement between January and February, compared with a rise of 0.3% between December 2013 and January 2014. The ‘narrow’ output price measure, which leaves out volatile sectors, rose 1.1% in the year to February, compared with a rise of 1.2% in the year to January.
Input price annual inflation fell 5.7% in the year to February, compared with a fall of 2.9% in the year to January. Month on month, the input price measure of UK manufacturers’ materials and fuels, fell 0.4% between January and February, compared with a fall of 0.9% between December 2013 and January 2014. The ‘narrow’ input price measure fell 5.3% in the year to February. In seasonally adjusted terms there was a fall of 1.1% between January and February.
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