Many UK services businesses plan record price rises

  • Economy
  • Thursday, 03 Mar 2022

Financial markets expect the central bank to raise rates again this month and for interest rates to reach 1.5% by August, up from 0.5% now.

A record share of firms in Britain's business and professional services sector expect to raise prices over the next three months as they face surging cost pressures, a survey showed on Thursday, adding to the Bank of England's inflation challenge.

The Confederation of British Industry said business and professional services firms were more likely to raise prices than at any time since the survey began in 1998. Consumer services companies' pricing plans were the highest since 2007.

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