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Annual UK Producer Input Price Growth Picks Up in May; Output Inflation Eases

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Producer input prices in the UK climbed 8.7% year over year in May, following the revised 7.9% gain earlier, data from the Office for National Statistics showed Wednesday.

Analysts expected an 8.8% jump for the month.

Meanwhile, producer output or factory gate prices gained 4% annually, as expected, against the revised 4.1% increase earlier.

On a monthly basis, producer input prices ticked up 0.2% in May, compared with the revised 2.6% rise previously and expectations of a 0.5% rise. Monthly factory gate prices were 0.5% higher, in line with market expectations and versus the revised prior 1.5% growth.

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