LONDON, Dec 11 (Reuters) - British manufacturers' input costs rose at their fastest annual pace in a year in November due to a rebound in crude oil prices after last year's falls, official data showed on Friday.
The Office for the National Statistics said non-seasonally adjusted input prices rose 4.0 percent on the year in November, broadly in line with expectations for a rise of 4.1 percent and up from 0.4 percent in October.
Output prices rose 2.9 percent on the year on a non-seasonally adjusted basis, the fastest pace since February and bang on expectations. Core output prices, which exclude food, drink, tobacco and petrol, were 2 percent higher on a year ago. Analysts had expected a reading of 2.1 percent.
The figures are likely to reinforce expecations that inflationary pressures will pick up over the coming months, potentially driving consumer price inflation towards 3 percent.
Policymakers have said they expect the increase but are focussing more on the medium term outlook for inflation, which looks very benign.
As such, analysts expect interest rates to remain at their record low 0.5 percent until at least well into next year.
The main upward contributor to the rise in input price inflation came from crude oil prices, which jumped 30 percent on the year -- the biggest annual increase since September 2008.
The ONS said that spike was a result of oil prices rebounding this year after a sharp fall at the end of last year.
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