Factory Goods Prices Up 0.3 Per Cent

By NO BYLINE

PRICES of goods leaving Britain’s factories rose by more than expected last month, official figures show.

The Office for National Statistics (ONS) said its output price index rose 2.9 per cent in the year to February, unchanged from the annual growth rate seen in the previous month but representing growth of 0.3 per cent between January and February.

Analysts had been looking for an annual rate of 2.8 per cent as firms continued their struggle against rising costs, particularly from soaring energy bills.

Core output prices, meanwhile, which exclude food, drink, tobacco and petrol products, rose 0.2 per cent as expected.