Price of goods bought and sold by UK manufacturers falls in February, says ONS

The price of goods bought and sold by UK manufacturers, as estimated by the Producer Price Index, fell in February.

Factory gate prices in Britain rose 0.2% in February, compared with a 0.4% decline in January, exceeding expectations of a rise to -0.1%.

According to data released by the Office for National Statistics on Tuesday, factory gate prices fell 1.8% year-on-year in February, compared with a 1.9% year-on-year decline in January.

Core factory gate prices, which exclude the more volatile food, beverage, tobacco and petroleum products, rose 0.2% year-on-year in February, compared with an annual 0.3% increase the previous month.

Total input prices fell 13.5% on annual basis, compared with a fall of 14.1% year-on-year in January, while the metric rose 0.2% from the previous month, compared with a 3.6% decline month-on-month in January.