U.K. factories saw costs rise at a record pace at the start of 2017, pointing to increasing upward pressure on inflation that could weigh on the economy this year.
A measure of input prices in IHS Markit’s monthly Purchasing Managers Index jumped to the highest since the series began in 1992, it said on Wednesday. The headline activity index for manufacturing was at 55.9, comfortably above the key 50 level that divides expansion from contraction, and a measure of output rose to the highest in almost three years.
