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mpc: 22 Excluding oil, goods import prices had risen at annual rate of 1¾% so far this year, the fastest rate of increase for some time. There had been some signs of a moderation in producer input price inflation in September, partly related to oil price effects. In contrast, the CIPS survey index of manufacturing input prices had risen further in October. The moderation in measured input prices had yet to be seen in output price inflation to a significant degree.