Summary
New data shows factory gate prices fell at their fastest annual rate in almost eight years during June due to lower oil prices. Output prices are now 1.2 per cent lower than a year ago - the biggest year-on-year fall since December 2001, the Office for National Statistics (ONS) said.
Despite petrol prices creeping up in recent weeks, oil is now at less than half the record 147 dollars a barrel seen last July as recession bears down on demand.See the full content of this document
Extract
Worrying Fall in Gate Prices ; Output
Petrol prices have fallen 20 per cent year on year, the biggest decline...
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