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U.K. Output Price Inflation Slows In April

U.K. output price inflation slowed to 3.3 percent in April from an upwardly revised 3.7 percent in March, the Office for National Statistics showed Friday.

The last time the annual rate was lower was in December 2009, when the index rose 3.2 percent, the statistical office said. The inflation rate was still above economists' forecast of 2.9 percent.

The output price index for home sales of manufactured products rose 0.7 percent month-on-month, following a 0.6 percent rise in March. Economists were expecting an increase of 0.4 percent.

Input price inflation also eased in April, to 1.2 percent from a downwardly revised 5.6 percent in the prior month. This was expected to ease to 2.1 percent.

On a monthly basis, input prices fell 1.5 percent following a revised 1.7 percent gain in March. Expectations were for a 0.9 percent fall.

by RTTNews Staff Writer

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