British wholesale prices rise 0.3 percent in May

British wholesale prices, or the cost of goods at the factory gate, rose by 0.3 percent in May from April.
On a 12-month basis output prices rose by 3.0 percent, the Office for National Statistics said Monday. The annual rise was the biggest since September last year.
The data was in line with analysts’ consensus forecast of a 0.3-percent month-on-month rise and yearly increase of 2.9 percent.

Input costs, or the cost of raw materials to industry, fell by 0.5 percent in May from April. The monthly drop was the first since December 2004 when prices fell by 2.3 percent.
The monthly decline came on the back of cost falls in products including crude oil and fuels.
Input prices climbed by 13.9 percent on a year-on-year basis, the ONS added.

SOURCE: AFP