Brexit and Covid add to UK inflationary pressure

The findings indicate headwinds for the UK economy that are starting to push up prices, alarming Bank of England policymakers who earlier this month said they may have to tighten monetary policy. (File pic shows BOE in London.)

LONDON: Britain’s exit from the European Union and the pandemic are adding to inflationary pressures that are starting to slow the United Kingdom 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 by the South West Manufacturing Advisory Service showed almost all the 260 respondents reporting supply chain bottlenecks from a lack of staff and materials.