Inflation & Prices
UK Firms Expect to Raise Prices 6%, See Inflation Lingering
- Findings likely to fuel pressure for further rate increases
- BOE survey suggests companies retain significant pricing power
A supermarket in Christchurch, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Inflation pressures in the UK economy showed only limited signs of abating in November, with companies expecting to raise prices by 5.7% in the coming 12 months.
Chief financial officers surveyed for the Bank of England also said they expect consumer prices to be growing at an annual rate of 7.2% a year from now and 3.9% in three years, almost double the 2% target.