Comments & Features
Factory gate inflation highest in over 20 years
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Posted 14 July 2008 @ 10:43 am GMT
The Office for National Statistics (ONS) released figures on Monday showing the first double digit rise in factory gate inflation since records began. Manufacturers' costs were also recorded as rising at record levels.
Fire destroys Seoul's ancient city gateThe ONS said that output prices were up 0.9 per cent on the month in June, with the annual rate up to 10 per cent, the highest since 1986.
Input prices increased 2.1 per cent in June thanks to increasing food and fuel prices. The annual rate of price inflation was up to 30 per cent, also the highest since 1986.
The ONS said that the annual rate of core output price inflation rose 6.3 per cent, the highest rise since 1982.
This article is copyrighted by the International Business Times.
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