Economic Buzz: UK's producer prices up 0.5% in May

Prices of goods coming out of factories in the United Kingdom rose 0.5% in May on a monthly basis, the country's Office for National Statistics (ONS) revealed in its report published on Wednesday. Year over year, the output producer prices increased 4%.

Meanwhile, the input producer inflation rate ran at 8.7% in the twelve months ending May. Month over month, the input producer prices were up 0.2%.

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