UK Firms Impose Fuel Surcharges as Input Costs Soar, PMI Shows

UK businesses raised prices at the fastest pace in over three years, as they sought to pass on soaring raw material and energy costs to consumers despite a subdued economic backdrop.

S&P Global’s survey of the private sector showed six in 10 firms saw their cost burden rise in April, with firms reporting higher fuel and wage costs as well as increasing prices for metals and plastics.