U.K. output price inflation eased in May to the lowest since November 2009, data from the Office for National Statistics said Friday.
Output price inflation fell to 2.8 percent in May from 3.2 percent in April. The annual rate was expected to stay at 3.2 percent.
On a monthly basis, the output price index dropped 0.2 percent, in contrast to a 0.1 percent rise forecast by economists. The decline follows a rise of 0.6 percent in April.
At the same time, input price annual inflation was the lowest since September 2009. The annual rate came in at 0.1 percent, sharply down from the 1 percent increase in the previous month.
Month-on-month, input prices were down 2.5 percent, which was the largest monthly fall since December 2008. In March, input prices dropped 1.4 percent.
by RTT Staff Writer
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