UK factory input prices have risen at the slowest pace since February 2022

ONS data showed input prices rose 16.5% in December from a year earlier, the slowest pace since February 2022.

This too represents a significant drop from June’s peak of 24.6%.

This occurred amid lower material costs prime driven by lower prices for imported food, chemicals, spare parts, equipment and oil.

According to experts, this indicates an improvement in some of the bottlenecks in supply chains that emerged with the Corona pandemic.

Producer prices, the cost of goods leaving factories, fell 0.8% month-on-month in December, while rising 14.7% year-on-year, the slowest pace of annual growth since last March.

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