Pound Drop Means the Only Way Is Up for U.K. Inflation: ChartBy
U.K. inflation pressures are building, with input prices at factories surging at the fastest annual pace in almost five years. While oil is playing a part, so too is sterling, which has fallen more than 10 percent since the Brexit vote, pushing up the cost of imported food, metals and parts. According to Sam Hill at RBC, consumer-price growth was “subdued” last month, though the producer-price data “suggest it won’t be long” before it resumes its march higher.
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