According to a report released by the UK's Office for National Statistics (ONS), in February this year the producer price index (PPI) for the UK manufacturing industry rose by 0.8 percent compared to January this year, following a month-on-month rise of 0.2 percent recorded in January. In the 12 months up to February, the output price index of manufactured products for the domestic market rose 2.3 percent year on year.
In February, the UK's PPI for the basic metal industry rose by 0.5 percent month on month and was down 2.9 percent compared to February 2012. During the given month, the PPI for domestic manufacture of metal products, except machinery, increased by 0.3 percent over the previous month and was down 0.5 percent year on year.
Meanwhile, in the imported metals sector, in February this year the input price index of imported basic iron and steel, ferroalloys, tube and pipes in the UK increased by 3.3 percent month on month and fell by 4.7 percent compared to February 2012, while the imported cold formed or folded metal product input price index rose 3.8 percent compared to the previous month and was down 3.1 percent year on year.