Producer Prices in United Kingdom
United Kingdom - Producer Prices
Inflation plunges to lowest level since April in July
Consumer prices fell a seasonally-adjusted 0.02% in July over the previous month, contrasting June's 0.50% rise. July's result marked the sharpest fall in prices since January. The figure was largely due to plunging prices for recreation and culture.
Inflation fell to 2.0% in July from June’s 2.5%. July's reading marked the lowest inflation rate since April. Annual average inflation was unchanged at June's 1.0% in July. Core inflation fell to 1.8% in July, from the previous month's 2.3%.
Despite July’s dip, our panelists see inflation rising back above the Bank of England’s 2.0% target by the end of the year, which could put pressure on the Bank of England to dial back its monetary stimulus.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.9% in 2021, which is up 0.2 percentage points from last month’s forecast, and 2.1% in 2022.
United Kingdom - Producer Prices Data
|Inflation (PPI, annual variation in %)||-1.7||0.5||3.4||2.9||1.6|
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Facts
|Bond Yield||0.83||-3.04 %||Jan 01|
|Exchange Rate||1.33||-0.35 %||Jan 01|
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September 1, 2021
According to the Nationwide Building Society, house prices in the United Kingdom rose 2.1% month-on-month in August, following July’s 0.6% drop.
August 23, 2021
The IHS Markit Composite Purchasing Managers’ Index (PMI) fell to 55.3 in August from July's 59.2, held back by staff and supply shortages amid a surge in Covid-19 cases which saw many people forced to self-isolate.
August 20, 2021
Consumer confidence came in at minus 8.0 in August, down from July's minus 7.0.
August 18, 2021
Consumer prices fell a seasonally-adjusted 0.02% in July over the previous month, contrasting June's 0.50% rise.
August 17, 2021
According to the ONS, in April–June the unemployment rate registered 4.7%, down 0.2 percentage points from Q1.