British factory gate prices and producers' costs rose at a record pace in April, official statistics show today, as fuel and food costs soared.
The Office for National Statistics said that output prices rose an unadjusted 1.4% on the month in April, taking the annual rate up to 7.5%. Both rates were the highest since the series began in 1986.
Input prices rose an adjusted 2.4% on the month, taking the annual rate up to 23.1% - also the highest since records began. Home produced food input prices soared a record 32.3% on a year ago in April and crude oil rose 62.6%.
The figures are likely to fuel concerns about rising inflation rates even as the economy slows, adding to the Bank of England's policy dilemma.
