Producer Price Inflation, UK: June 2022 Including Services, April To June 2022

20th July 2022

Services Producer Price Index (SPPI)
Producer price inflation data
Glossary
Measuring the data
Strengths and limitations
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1.Main points
Producer input prices rose by 24.0% in the year to June 2022, up from 22.4% in the year to May 2022; this is the highest the rate has been since records began in January 1985.

Producer output (factory gate) prices rose by 16.5% in the year to June 2022, up from 15.8% in the year to May 2022; this is the highest the rate has been since September 1977.

Metals and non-metallic minerals, and food products provided the largest upward contributions to the annual rates of input and output inflation, respectively.

Services producer prices rose by 5.4% in the year to Quarter 2 (Apr to June) 2022, up from 4.2% in the year to Quarter 1 (Jan to Mar) 2022; this is the highest the rate has been since records began in Quarter 1 1999.

Information and communication services provided the largest upward contribution to the annual rate of the Services Producer Price Index (SPPI).

2.Producer price inflation (PPI) annual growth rates
The headline input index has been extended back to 1984 (Figure 1) using previously published data, while the headline output index has been extended back to 1974.

The annual rate of input PPI increased to 24.0% in the year to June 2022; the rate has now been positive for 19 consecutive months.

Figure 1: Input producer price inflation (PPI) annual growth rate has seen a sharp and sustained rise since May 2020 and has reached record levels.

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