Factory gate prices of goods produced by the UK manufacturers dropped 0.8 percent year-on-year in June 2020, following a downwardly revised 1.2 percent fall in the previous month and compared with market expectations of a 1.1 percent decrease. It was the third consecutive decline in factory prices, amid the gradual reopening of workplaces and premises as a result of the lifting of the government coronavirus lockdown restrictions. Of the 10 product groups, four provided negative contributions to the output annual rate, of which petroleum (-20.5 percent), chemicals & pharmaceuticals (-1.6 percent), paper & printing (-0.4 percent) and other manufactured products (-0.2 percent). On a monthly basis, producer prices went up 0.3 percent, the most since July last year, after falling a downwardly revised 0.2 percent in May.
Producer Prices Change in the United Kingdom averaged 4.96 percent from 1964 until 2020, reaching an all time high of 27.80 percent in January of 1975 and a record low of -1.90 percent in August of 2015. This page provides the latest reported value for - United Kingdom Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Producer Prices Change - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Office for National Statistics
Producer Prices Change in the United Kingdom is expected to be -1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in the United Kingdom to stand at 1.20 in 12 months time. In the long-term, the United Kingdom Producer Prices Change is projected to trend around 1.60 percent in 2021 and 1.90 percent in 2022, according to our econometric models.