ONS reports 0.7 percent rise in input prices

Recent data show that the cost of running a manufacturing plant in September was higher than expected due to rising commodity costs.

Figures from the UK's Office for National Statistics revealed that input prices rose by 0.7 percent from August, ahead of analyst projections, as high costs for commodities such as wheat, cotton and oil drove up the price of manufacturing.

The price of goods leaving factories grew by 0.3 percent, a larger gain than analysts expected.

Howard Archer, chief European and UK economist at the forecasting group IHS Global Insight, described the data as "disappointingly high." The price hikes have been felt across all elements of the supply chain, affecting shoppers and manufacturers alike as the cost of goods continues to rise.

In addition, inflation has been running above the 2 percent target set by the government, but other economic indicators are weak, which has prompted some to call for intervention to keep the economy afloat.