British producer prices strike three-year high

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The prices of goods leaving Britain's factories hit a three-year peak in September, propelled by rising food and petroleum costs, official data showed on Friday, fanning fears of higher inflation.

Producer prices surged 6.3 percent last month compared with September 2010, the Office for National Statistics said in a statement.

That was the strongest annual increase since October 2008 and was in line with market expectations, according to analysts polled by Dow Jones Newswires. The ONS added that prices rose by 0.3 percent in September compared with August.

© 2011 AFP

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