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Producer prices in the UK's services sector dropped 0.4% in the second quarter, reversing an annual 0.8% rise in the prior quarter, the Office for National Statistics reported Wednesday. On a sequential basis, output prices edged up 0.1%.
The largest downward effect on annual change in prices came from freight forwarding. Due to the current competitive market conditions, construction plant hire also made notable downward contributions. These effects were partially offset by upward pressure from sewerage services.
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