Friday, November 6, 2009
UK producer input price inflation jumps in Oct
The Office for National Statistics said input prices rose 0.1 percent on the year after a 6.2 percent annual fall in September, confounding analysts' expectation for a decline of 1.3 percent. The figures suggest pressures are building up at the start of the inflation pipeline. The Bank of England expanded its quantitative easing programme on Thursday but said it expected inflation to pick up sharply in the near term. The pick-up in input price inflation was driven by a 0.8 percent annual rise in crude oil prices, the biggest increase since October 2008.