Producer prices advance in April: official data

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The prices of goods leaving British factories rose by more than expected in April, official data showed on Friday, reigniting fears over high inflation.

Producer prices climbed 5.3 percent last month, compared with April 2010, the Office for National Statistics (ONS) said in a statement.

Market expectations had been for a smaller gain of 5.2 percent in April, according to a survey of analysts by Dow Jones Newswires. The ONS added that prices rose by 0.8 percent in April compared with March.

"April's UK producer prices figures show that cost pressures have continued to build in the manufacturing sector," Capital Economics analyst Samuel Tombs said in response to the data.

© 2011 AFP

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