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Brexit and Covid Add to U.K. Inflationary Pressure

  • Most manufacturers struggle to get materials and labor
  • Bank of England is concerned about rising pressure on prices

Britain’s exit from the European Union and the pandemic are adding to inflationary pressures that are starting to slow the U.K. economic recovery, two business surveys show. 

The outlook was the weakest since January, in a poll of 1,500 companies by Lloyds Bank Plc and IHS Markit. A separate report Thursday by the South West Manufacturing Advisory Service showed almost all the 260 respondents reporting supply chain bottlenecks from a lack of staff and materials.