August 15, 2024
UK Input PPI declined by 0.1% in July over the month and rose by 0.4% in July over the year. Output PPI remained flat in July over the month and rose by 0.8% over the year. After sliding below target of 2% in the summer of 2023 producer inflation remains below this level, however, since then it has been trending up (see chart).
Now it remains at safe levels, however, persistent upward tendency raises some concern for further strengthening. Monthly figures show persistent abating in price pressure (see chart) which possibly translate into slowing of yearly inflation