Inputs And Outputs Both Down

According to last week's PPI figures from the ONS output prices were down 0.3% in the year to May but rose 0.4% in the month to May. It compares with a rise of 1.3% in the year to April. The rise in petrol prices is partly the cause. Input prices fell by 9.4% in the year but rose 0.4% in the month to May. It is partly a result of a rise in the price of crude oil and partly offset by a fall in fuel prices. The output PPI was affected by Budget measures increasing petrol, alcohol and tobacco taxes which are estimated to have added 0.1% in May if passed on in full.