UK output price index up 3.3 per cent

The lowest annual rate since December 2009, when the index rose 3.2 per cent.

New Statesman
The output price index for manufactured products rose 2.3 per cent in the year to April. Credit: Getty Images.

As the double-dip recession becomes a reality, Britons are beginning to feel the pinch of rising costs. According to figures released today by the Office for National Statistics, the UK's output price index for home sales of manufactured products rose 3.3 per cent in the year to April 2012, compared with a rise of 3.7 per cent last month. 

The last time the annual rate was lower was in December 2009, when the index rose 3.2 per cent.

Between March and April the output index for home sales of manufactured products rose 0.7 per cent. It rose 0.6 per cent between February and March.

In the year to April, the output price index excluding food, beverages, tobacco and petroleum increased by 2.3 per cent, compared to 2.5 per cent the previous month.

The changes announced in the March Budget are estimated to have added 0.3 per cent to the overall index in April.

The total input price index rose 1.2 per cent in the year to April 2012, compared with a rise of 5.6 per cent the previous month.

This is also the first time that the annual growth rate for input prices was lower than the annual growth rate in output prices since October 2009, when the input price index rose 0.8 per cent and the output price index rose 1.5 per cent.

Between March and April, the total input price index fell 1.5 per cent, compared with a rise of 1.7 per cent between February and March.