UK factories reduce prices by 0.8% in December – ONS

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Input prices paid by factories fell by 1.1% in month-on-month terms, the ONS said.

Economists polled by Reuters had expected producer output prices to rise by 0.3% on a monthly basis, and for producer input prices to fall by 0.6% month-on-month.

The ONS producer price inflation data for November and December was published later than unusual after the statistics office detected problems with the prices data it uses.

The Bank of England is watching for signs of future inflation pressure. Investors expect the BoE to raise interest rates for a 10th time in a row on Feb. 2 with most pricing in another half-percentage-point increase to 4%.

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