Input price inflation strikes 20-year high
29 August 2012
Raw material prices rose at the fastest rate in 20 years in June.
Official figures from National Statistics show a seasonally adjusted monthly rise of 2.1 per cent in input prices.
In the year to June, they rose by 12.1 per cent – the biggest increase since 1985.
Analysts credit the monthly increase to higher costs of crude oil – up by 13.1 per cent – and home-produced foods. These were slightly offset by lower prices...