Farm Gate Milk Price Decrease In November

The UK average price of a litre of milk in November 2011 was 29.3p, compared with 3.13p/l in November 2010. The average butterfat content was 4.17% and the average protein content was 3.33% compared with 4.11% and 3.36% respectively in 2010.

API For April 2011

The agricultural prices index for April published by Defra for prices received by producers for agricultural products for the total of all products in the monthly series in April 2011 was 166.4. To put this index number into some kind of context the index number highest since January 2010 was in March 2011 (last month) at 167.3 and the lowest was in April 2010 with 139.1. The index for purchase prices paid by producers for agricultural inputs in the monthly series for April 2011 was 148.7. The highest index since January 2010 was in January 2011 at 150.0 and January and March were lowest at 130.7.

Factory Gate Prices Increase Again

Output prices for home sales of manufactured goods went up 5.7% over the year to April 2010 compared to 5% to March. Excluding excise duties changes the increase was 5.3% over the year and 1.3% over the month. The monthly index rose 1.4% between March and April.

Input prices went up 13.1% in the year and 0.6% over the month. The increase mainly reflects the increases in the price of crude oil and imported metals. Imported materials increased in price by 0.8% between March and April.

Fibre-Optic The Future Of OECD Broadband

The OECD has updated its broadband statistics of member states to June 2009. The number of broadband subscribers in the OECD in June 2009 was 271 million, up 10% from June 2008, and half of OECD countries have reached 25 subscriptions in a 100 people. Future growth in fast broadband is expected to come from fibre-optic networks.

In June 2009 the United States had the most broadband subscribers by millions in the world with over 81m, Japan came second with nearly 31m and Germany with 24m. These were followed by France and the UK with 18.7 and 17.7m respectively and then Korea with nearly 16m and Italy with nearly 12m.

Korea had the largest proportion of households with 94.3% having broadband access. Iceland had 83.2% and Denmark 74.1%. The United States proprtion of households with broadband access was 50.8% (2007), the UK had 61.5%, Japan 58.5%, Germany 54.9% and Italy 30.8%.

The price range of broadband monthly subscriptions was very wide in some countries and very narrow in others. In Turkey the price range was very wide. The range was from very low at $8.45 a month to quite high at $125.95 a month in US dollars PPP terms. The Slovak Republic's range was widest from a moderately low $15.6 a month to a very high $263.23 a month. Korea had a very narrow range of prices in the middle to low range from $33.97 to $43.03. The US range in price was from $14.99 a month to $139.95 a month. UK prices ranged from $17.81 to $55.76, Japan prices range from $19.50 to $67.09 a month, Germany $23.02 to $75.15 and Italy from $11.39 to $45.43.

The average prices for low speed connections were lowest in Italy at $11.39 PPP and highest in Mexico at $57.79. The US average was $24.40, the UK $22.07, Japan $22.38 and Germany $36.96. The average monthly broadband subscription price was highest in the Slovak Republic at $78.86 PPP quite a long way ahead of Mexico in second at $59.52 and the lowest in Sweden at $29.22 ahead of Greece at £30.06.

PPP stands for Purchasing Power Parity which is a measure that gives currencies some equivalence for a meaningful comparison in terms of a parity of their purchasing power.

Food Inflation Lowest For Three Years

Shop price inflation slowed to the lowest level for three years. The British Retail Consortium's (BRC) Shop Price Index (SPI) fell to 1.2% in March from 1.7% in February. Food inflation fell to 1.2% from 1.3% and non-food inflation to 1.3% from 1.9%. Food inflation is at its lowest for over three years.

Retail Sales Up In February

The value of retail sales rose by 4.9% this year as against February 2009. The index was 114.4 compared with 112.3 in January. There was an increase of 1.9% on last month and 3.8% on the last three months. If fuel is excluded the increase was 5.3%. The volume of retail sales rose by 3.5% compared with February 2009. The index was 112.1 and 114.3 excluding fuel. The increase on last month was 2.1% and 1.6% on the previous three months. If fuel is excluded the increase in volume was 5.4% (Figures seasonally adjusted). The deflator was 1.6 and excluding fuel it was -0.1.

Looking at the data in more detail, the predominantly food stores increased their sales value by 0.9% on last year and non-food stores increased value by 8.1%. Non-specialised stores increased by 9.1%, textile, clothing and footwear increased by 6.5% and other stores by 11.1%. Household goods increased sales value by 5.4% over the year and a record 9.7% month on month. Non-store retailing increased by a record 21.2% on last year. Auto fuel was 1.5% up on last year.

The 3.5% increase in volume was mainly due to an increase in non-store retailing of 20.4%, non-food stores at 8.4% within which non-specialised and other stores increased by 9.7% and textile, clothing and footwear increased by 9.5%. Household goods increased in volume by 4.4% over the year and by 11.2 on last month, the highest monthly increase on record. These increases in volume were offset by automotive fuel which was 15.7% lower than last year. Prices of retail sales were estimated to be 1.6% higher than February 2009.

Internet retail sales average weekly value was £414m or about 8% of all retail sales, excluding fuel. The total value of retail sales in February was estimated to be £22.9bn. The estimated weekly value of retail sales in February was £5.7bn (Figures not seasonally adjusted).

Retailers Less Pessimistic About Future

The CBI Distributive Trades Survey shows high street sales falling for the fourth month in a row in the year to August. Running down stocks has left many businesses with a level that is just about adequate but job cuts could be heavier than in May. Most retailers reported a fall in retail sales and a further fall is predicted for September. Sales for the time of year are also reported to be weak. Retailers continue to cut their orders with their suppliers at an even faster rate than in previous months. More jobs may also go before September. Price inflation continues to rise. However, business confidence is improving with many people in business feeling less pessimistic about the general business situation than the last quarter.

Manufacturing Decline Slowing Down

The CBI quarterly Industrial Trends survey suggests the rate of decline in manufacturing may be slowing but a return to growth is not within sight for the next quarter at least. Firms are continuing to run down stocks and stocks of finished goods running down at the fastest rate for over 50 years. However, stock adequacy is such that firms are planning to continue to run them down at the same rate next quarter. Export demand also continues to fall despite the weakness of the pound and price cuts. Firms also reported employment continues to fall.

Sales Reflect Retailers Expectations

Retailers' year-on-year sales fell again in May according to the latest CBI Distributive Trades Survey results published today. There had been a brief pause in the decline in April but at least the monthly results reflect retailers' expectations for the month and confidence is the least negative for a year.

Employment conditions remained difficult in May and staff reductions continued to mount. Prices rose during the month and similar rates of price inflation are expected in the August quarterly DTS survey. A small majority of firms expect the general situation facing retailers to get still worse.

Wholesale and motor traders' sales fell faster in the year to May than in the year to April. Average selling prices in both sectors also increased. In the motors sector prices increased at the fastest rate since August 1990. Investment plans in the wholesale sector are lower than at any time since February 1991.