(RTTNews) - U.K.’s output prices fell 0.2% month-on-month in June after rising 0.4% in May, the Office for National Statistics said Friday, beating expectations for a 0.3% increase.

On an annual basis, prices fell 1.2%, the lowest annual rate of producer output prices since December 2001.

Core output prices fell 0.8% month-on-month, but rose 0.1% over the previous year. The annual rate of core output producer prices was the lowest sine June 2004.

Meanwhile, input prices rose 1.5% on a monthly basis, exceeding the forecast for a 0.8% increase. Annually, prices fell 11%, the lowest annual rate of input prices since April 1997.

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