UK Producers Price Index Surprises to Upside

Bloomberg reports:

U.K. producer prices unexpectedly rose in July, a sign the recession may be easing enough for companies to charge customers more and rebuild their margins.

The price of goods at factory gates climbed 0.3 percent from June, the Office for National Statistics said today in London. Economists predicted no change, according to the median of 19 forecasts in a Bloomberg News survey. On the year, prices declined 1.3 percent, the most since November 2001.

So things are better... OR oil is down 50% year over year AND up 50% over the past six months. But, that would be too easy an explanation.

Source: Statistics.Gov.UK