LONDON (Reuters) -British producer output price inflation rose to 1.9% in the 12 months to June, while producer input prices fell by an annual 1.0%, the Office for National Statistics said on Wednesday.
Britain’s ONS suspended the publication of PPI data in March after discovering calculation errors dating back to 2020. Wednesday’s figures represent interim data before regular publication resumes in October.
In July, the ONS said initial analysis showed that producer price inflation in previous years had been higher than originally calculated.
Producer price inflation is used by economists including those at the Bank of England to judge the strength of underlying inflationary pressures in the economy and their likely impact on consumer prices.
British CPI rose to an 18-month high of 3.8% in July – the highest among major advanced economies – and the Bank of England forecasts it will reach 4% in September.
(Reporting by David Milliken; Editing by Kate Holton)
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