LONDON (Reuters) – Britain’s post-lockdown economic recovery avoided losing further momentum in September but companies increased prices at the fastest pace on record, adding to signs of rising inflation, a survey showed on Tuesday. The final reading of the IHS Markit/CIPS composite Purchasing Managers’ Index (PMI), which combines Britain’s services and manufacturing sectors, edged up to 54.9 from 54.8 in August, the first time it did not fall since May. Some companies said the scheduled end on Sept. 30 of a tax break for home-buyers contributed to the slowdown in new orders. Companies raised the prices they charged at the fastest pace since the composite index was launched in 1999. The Bank of England is watching closely for any signs that the recent rise in inflation might prove longer-lasting than it has predicted.

Source: MetroXpress October 05, 2021 08:37 UTC