The price of British goods leaving the factory gate rose by slightly more than expected in January, but not by nearly as much as the cost of goods that manufacturers need to buy in order to produce them, official data show.
The Office for National Statistics reported that the output price index for January rose by 0.4 per cent, to 3.8 per cent year on year. However, when food, beverages, tobacco and petroleum products were stripped out – the core output prices figure – January output prices rose by a more modest 0.3 per cent and by 2.5 per cent year on year.