Forex News: 12.03.2007 UK Feb. input prices up 1.3 pct
UK raw materials costs recorded their biggest rise in seven months during February, driven by higher oil prices, official figures showed today.The Office for National Statistics revealed that input prices jumped by 1.3 pct in February from January. This is the biggest monthly rise since July last year and reflects the rise in crude oil prices seen during the month. The reading is well above analysts' expectations for a much more modest rise of 0.7 pct and follows a 2.5 pct fall the previous month.
On a year-on-year basis, input prices fell by 1.0 pct, in line with forecasts.
Today's data also showed that on a non-seasonally adjusted basis, output prices rose a monthly 0.3 pct in February, down on January's upwardly revised 0.4 pct.
On a seasonally-adjusted basis, core output prices were up by 0.5 pct in February from January, the biggest monthly rise since April last year and up on a 0.2 pct gain the previous month.
posted by Kalin Tasev @ 5:34 AM
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