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Producer Prices in the UK for the month of August came in well below expectations. In fact, this was the largest sequential (month over month) drop in prices in 22 years (see charts below).

Dropping -0.6% sequentially is better than bad, but it's important to keep in mind where these prices are falling from! The charts below show 1 "Trend" line inflation. Output prices are still close to +10% year over year.

Europe is starving for relief in headline economic reports however. This should feed them, for a day.
KM