Raw materials prices fall

Raw materials prices paid by manufacturers fell sharply last month as the effects of the easing oil price fed through. The 3.6% reduction was a record one-month drop for the Office for National Statistics’ input prices index. However, earlier oil price rises mean that input prices are still 7% higher than a year ago. Meanwhile, […]

Raw materials prices paid by manufacturers fell sharply last month as the effects of the easing oil price fed through. The 3.6% reduction was a record one-month drop for the Office for National Statistics’ input prices index. However, earlier oil price rises mean that input prices are still 7% higher than a year ago. Meanwhile, factory gate prices stayed flat with a year-on-year increase of 2.2% overall and just 0.8% outside the food, drink and petroleum sectors.