ONS data showed resource prices rose 16.5% in December year-over-year, the slowest pace since February 2022.
This also represents a significant decline from a peak of 24.6% in June.
This happened against the backdrop of a decline in the cost of raw materials caused by lower prices for imported food, chemicals, spare parts, equipment and oil.
According to experts, this indicates the elimination of some bottlenecks in supply chains that have arisen in connection with the coronavirus pandemic.
Product prices, the value of goods leaving factory doors, fell 0.8% m/m in December while rising 14.7% y/y, the slowest annual rate of growth since March.
