British wholesale prices, or the cost of goods at the factory gate, rose by 0.3% in May from April, according to the latest figures. On a 12-month basis output prices rose by 3%, the Office for National Statistics said.
The annual rise was the biggest since September last year. The data was in line with analysts' consensus forecast of a 0.3% month-on-month rise and yearly increase of 2.9%.
Input costs, or the cost of raw materials to industry, fell by 0.5% in May from April. The monthly drop was the first since December 2004 when prices fell by 2.3%.
The monthly decline came on the back of cost falls in products including crude oil and fuels. Input prices climbed by 13.9% on a year-on-year basis, the ONS added.
