Cost pressures on UK firms have gone up at a record level, suggesting that the current surge in consumer prices may be more than just a blip.
A closely watched survey, produced by IHS Markit/CIPS, showed input costs rose at the fastest rate for 13 years. And inflation of prices charged by firms hit its highest since records began in 1999, as factories struggled to source raw materials.
Read the full article on the BBC website
NAM Implications:
- Official stats: Consumer price inflation hit a two-year high of 2.1% in the year to May.
- Pragmatists (check the value of ‘the pound in your pocket’!) know real inflation is already higher.
- i.e. not about a pent-up surge in post-Lockdown demand…
- …but more a case of underlying cost increases in the pipeline.
- Watch this space…
