UK’s basic metal manufacturing PPI down 4.2 percent in July

According to a report released by the UK's Office for National Statistics (ONS), in July this year the producer price index (PPI) for the UK manufacturing industry remained stable compared to June this year, following a month-on-month fall of 0.6 percent recorded in June. In the 12 months up to July, the output price index of manufactured products for the domestic market rose 1.7 percent year on year. Output inflation has decelerated steadily since September 2011, when prices rose 6.3 percent year on year.
 
In July, the UK's PPI for the basic metal industry fell by 0.6 percent month on month and was down 4.2 percent compared to July 2011. During the given month, the PPI for domestic manufacture of metal products, except machinery, decreased by 0.1 percent from the previous month and was up 1.2 percent year on year.
 
Meanwhile, in the sector in question, in July this year the input price index of imported basic iron and steel, ferroalloys, tube and pipes decreased 1.8 percent month on month and fell by 11.8 percent compared to July 2011, while the imported cold formed or folded metal product input price index fell 1.4 percent compared to the previous month and was down 14.4 percent year on year.