The index characterizes costs associated with the manufacturing of a production unit. This indicator reflects worker productivity and the prevailing wage rate for companies in the UK.
If the growth rate of labor costs exceed the rate of productivity growth, it causes inflationary pressures in the economy. It is released monthly. It has a limited impact on the market.
- Release Frequency: monthly.
- Release Schedule: 09:30 GMT.
- Source: U.K. Office of National Statistics.