The annual rate of producer price inflation fell back slightly in March 2017. Factory gate prices (output prices) rose 3.6% on the year to March 2017, from 3.7% in February 2017, which is the ninth consecutive period of annual price growth. Prices for materials and fuels which are paid by UK manufacturers for processing (input prices) rose 17.9% on the year, which is a slight decrease from February 2017; this is the ninth consecutive period of annual price growth.
Wednesday's session was marked by UK job figures. There were 31.84 million people in work, 39,000 more than for September to November 2016 and 312,000 more than for a year earlier. The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.6%, the joint highest since comparable records began in 1971. There were 1.56 million unemployed people (people not in work but seeking and available to work), 45,000 fewer than for September to November 2016 and 141,000 fewer than for a year earlier. The unemployment rate was 4.7%, down from 5.1% for a year earlier. It has not been lower since June to August 1975.
This week markets will be looking at:
Retail Sales (Friday 10:30)
