Economic Buzz: UK's producer prices up by 0.8% in September

Prices of goods coming out of factories in the United Kingdom saw a monthly rise of 0.8% in September compared to the month before, the country's Office for National Statistics (ONS) revealed in its report published on Wednesday. Year-over-year, the output producer prices rose 4.6%.

Meanwhile, the input producer inflation rate came in at 8.3% in the twelve months ending in September. On a monthly basis, the input producer prices were up 1.5%.

The increases in input and output price inflation were mainly caused by oil-related products. These movements come as the data continue to be affected by the conflict in the Middle East, the ONS said in the report.

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