UK data show slowing producer and house price inflation, weak retail sales

There were more data for the UK yesterday for the Bank of England to chew on.

Reuters reports a slowing in producer price inflation:

Factory gate inflation slowed as expected in March while raw material costs rose at their slowest annual pace in almost half a year, official statistics showed on Monday.

The Office for National Statistics said that output prices rose an unadjusted 0.3 percent on the month, slowing the annual rate of increase to 2.5 percent from 2.9 percent in February.

However, seasonally adjusted core output prices, which exclude food, drinks, tobacco and petroleum products, rose more than expected, by 0.3 percent on the month and by 1.9 percent on the year -- the fastest pace in six months.

Input prices rose a slightly slower than expected 0.3 percent on the month to put the annual rate at 13.2 percent, its lowest since October.

...as well as house price inflation:

House price inflation slowed to 3.6 percent in February from 4.3 percent in January, the government said on Monday, despite evidence from mortgage lenders that the property market is re-accelerating.

Retail sales were also weak in March:

The British Retail Consortium said that like-for-like sales fell 1.4 percent last month. But that was mainly because Easter, which tends to boost sales, does not arrive until April this year, making sales look weak compared with March 2005.

Total sales, which include all floorspace, rose by just 1.6 percent, their weakest annual gain in nearly a year, after a strong 3.5 percent rise in February.