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To: Tunica Albuginea who wrote (42675)	10/11/1999 10:47:00 AM
From: Tunica Albuginea	Respond to of 116779

USProducer Prices Index out this coming Fri: Going up like UK? -------------------------------------------- Monday, October 11, 1999 Published at 14:18 GMT 15:18 UK Business: The Economy UK producer prices jump The price of oil pushed factory prices higher UK producer prices rose in September, pushed higher by the rise in oil prices. The stronger than expected figures increase concern that the Bank of England's Monetary Policy Committee will raise interest rates again. At its meeting last week, the MPC decided to leave the Bank's short-term lending rate - the base rate - unchanged at 5.25%. The price of goods leaving UK factories was up 0.3% in September, with the annual rate of increase of 1.7% the highest level in three years. The jump in prices was driven by oil prices, which rose 7.2% in September. If the prices of oil and food are stripped out, output prices rose 0.2% in September. Input prices, the cost of raw materials and fuel entering British factories, rose 0.7% in September, a 5.8% increase on a year earlier. Don Eggington, an analyst at Daiwa Securities, said the growing rate of price increases stoked up fears of a further interest rate rise. "The output prices are towards the higher end of expectations. That might cause a few warning bells to start ringing in the corridors of the MPC at the Bank of England." More figures to come On Tuesday, the retail price data will be released, providing further clues as to what the Bank of England is likely to do next. Another analyst said: "It does not put undue pressure on the MPC. What would put pressure on the MPC to move rates upwards would be that if this were to be followed by a disappointing retail price number tomorrow." The Office for National Statistics said the overall rise in input prices would have been higher had it not been for falls in locally produced food. The prices of pigs, lambs and cows for slaughter all fell back. news.bbc.co.uk