The UK Producers Price Index Output measures the change in the price of goods sold by manufacturers. It is an important indicator of inflationary pressures, as changes in the prices that producers receive for their goods are often passed on to consumers in the form of higher prices. The index measures the average price change from a base period for a basket of manufactured goods. It is released monthly by the Office for National Statistics (ONS) and is closely watched by economists, policymakers, and investors.