The UK PPI witnessed an accelerated pace of increase in November than October, according to a release from Office for National Statistics.
The UK PPI expanded to 3.0 percent in November from 2.8 percent in the preceding month.
The main factor behind the UK PPI was the 7.3 percent expansion in prices of materials and fuels. In the preceding month, it was 4.8 percent increase.
The official release showed, “All industries provided upward contributions to both input and output annual inflation; the largest contributors to the change in the annual rates were crude oil and petroleum products respectively.”
Similarly, core input inflation also expanded to 4.6 percent in November from 3.4 percent in October.
As far as the annual rate of output inflation, the increase was 0.2 points to 3.0 percent and represented 17th straight month of positive inflation.
Petroleum was the biggest annual growth expanding to 6.0 percent in November from 4.1 percent in the preceding month. The one rate expanded to 0.3 percent from 0.2 percent during the period.