British Producer Prices Jump in July

Higher raw material costs to blame

The cost of goods leaving British factories surged higher in July owing to the soaring cost of raw materials, official data showed on August 11. Producer prices climbed by 0.4% in July from June, Britain's Office for National Statistics (ONS) said.

They jumped by 10.2% in July compared with 12 months earlier, the ONS added. The annual rate of output price growth was the highest since records began in 1986.

The increase reflected higher costs for chemicals, metal and petrol products, according to the ONS.

Copyright Agence France-Presse, 2008

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