Wednesday, May 4, 2011

March 2011 UK Industrial Producer Prices up 10.8% compared with March 2010!

According to Eurostat stats released yesterday, in March 2011 compared with March 2010, UK industrial producer prices gained a whopping 10.7%.

That is the 3rd largest hike among the EU27 for which data are available (NL's was 10.8% whereas Bulgaria's 12.1%) and 2nd among the non-Eurozone EU member economies! The February 2011 compared with February 2010 number had been lower but still quite high, 9.8%!

According to Eurostat stats (released back in April 15) re inflation in March 2011, UK's was 4.0% (annualised, ie March 2011 compared with March 2010), down from 4.4% in February, but same as in J.anuary

According to economists, Producer Prices are an indication as to what inflation will be a few months later. Thus the 10.8% IPPI figure for March seems cause for concern.

Taking into consideration that in March 2011 compared with March 2010, industrial producer prices gained 6.7% in the Eurozone and 7.4% in the EU27 and in February 2011 vs February 2010 the corresponding numbers were 6.6% and 7.1%, that causes concerns re the systemics related to the UK industry.

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Nick

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