Friday, April 13, 2012
Good news! The price of everything has gone up. We are all richer than before.
UK producer prices rose 0.6% in March from February, due in part to rises in the cost of petrol products, tobacco and alcohol, figures have shown. On an annual basis, prices rose by 3.6%, the lowest rate for more than two years, the Office for National Statistics (ONS) said. Annual producer price inflation has been slowing since September last year, when it rose by more than 6%. Input prices rose by 1.9% month-on-month, and 5.8% year-on-year. Separate figures showed output in the construction industry fell by 4.6% in February compared with a year earlier. In other news - wages are static and savings rates are abysmal.