UK House Prices cool. UK factory inflation increases in December.

January 14, 2008 - Forex Economic News

In economic news released out of the UK today, UK house prices declined in the month of November. A Department of Communities and Local Government report showed that house prices in November averaged £218,330 down 0.8 percent from October's average house price of £220,195. November's 0.8 percent decrease comes after a 0.1 percent increase in October. Annual house price inflation for November was 9.5 percent compared to October's 11.3 percent while a three month average annual house price inflation registered 10.5 percent. London annual house price inflation was 14.1 percent in November compared to 17.7 percent in October while a three month average registered 16.1 percent.

Also out of the UK, factory output prices or producer price inflation increased in December to an annual rate of 5.0 percent according to the Britain's Office of National Statistics. The factory gate output prices gauge the prices at which goods are sold by UK manufacturers and is a measure of inflation. Output prices increased by 0.5 percent in December from November, largely due to increases in fuel and food prices. December's annual rate of 5.0 percent, up 0.5 percent from November's 4.5 percent was the highest level since August of 1991.

Tags: UK Factory Gate Inflation, UK House Prices, -------- -------------- Blog index