Producer Prices in United Kingdom
United Kingdom - Producer Prices
Inflation rises in April
Consumer prices rose 0.6% in April over the previous month, up from March’s 0.2% increase. April’s reading was underpinned by higher prices for housing and utilities, and transport.
Inflation increased from 1.9% to 2.1%, moving marginally above the Bank of England’s (BoE) 2.0% target but coming in slightly below market expectations of 2.2%. Core inflation—which excludes food and energy costs—was unchanged at 1.8%. April’s increase was likely driven in large part by the British energy regulator’s decision to increase energy prices by 10% from 1 April.
Looking ahead, while the energy price hike will provide some upward price pressure over the coming months, inflation is expected to remain close to the Bank’s target amid mild economic momentum.
UK Inflation Forecast
The Bank of England revised down its inflation projections in its May Inflation Report, and now sees inflation at 1.6% in Q4 2019 and 2.0% in Q4 2020. FocusEconomics Consensus Forecast panelists expect inflation to average 1.9% in 2019 and 2.0% in 2020.
United Kingdom - Producer Prices Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Inflation (PPI, annual variation in %) | 1.3 | 0.0 | -1.7 | 0.5 | 3.4 |
United Kingdom Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.84 | -3.04 % | Jun 13 |
| Exchange Rate | 1.27 | -0.35 % | Jun 13 |
| Stock Market | 7,369 | -0.26 % | Jun 13 |
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Economic News
United Kingdom: Labor market remains strong in February-April period
June 11, 2019
In the February-April period, the unemployment rate remained at a multi-decade low of 3.8%, while the employment rate was the joint-highest on record.
United Kingdom: Industrial production plunges in April on temporary factors
June 10, 2019
Industrial production fell 2.7% in April over the prior month according to the Office for National Statistics, contrasting March’s 0.7% increase.
United Kingdom: The economy contracts sharply in April amid plunging car production
June 10, 2019
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity fell 0.4% in April over the prior month in seasonally-adjusted terms, down from March’s 0.1% contraction.
United Kingdom: The services PMI improves in May while the manufacturing PMI slumps
June 5, 2019
The IHS Markit/CIPS UK services Purchasing Managers’ Index (PMI) rose to 51.0 in May from 50.4 in April.
United Kingdom: Consumer sentiment brightens in May
May 31, 2019
The GfK consumer confidence indicator registered minus 10 points in May, up from April’s minus 13.
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