UK manufacturers’ price expectations fall to 9-month low – CBI
2022.06.21 13:25
FILE PHOTO: A laser operator removes an offcut at Contracts Engineering Ltd, a steel products manufacturer, in Sittingbourne, southeast England, Britain May 9, 2015. REUTERS/Luke MacGregor/File Photo
LONDON (Reuters) – British manufacturers’ expectations for how much they would raise their prices fell to a nine-month low in June, in a rare sign of softening price pressures at a time when consumer price inflation is soon expected to reach double digits.
The Confederation of British Industry’s monthly industrial price expectations balance – which show firms’ expectations for selling prices over the next three months – dropped to +58 in June from +75 in May, its lowest reading since September.
The headline industrial orders gauge fell to +18 in June from May’s +26.
“We may be seeing the first signs that weaker activity is beginning to slow the pace of price increases in the sector,” CBI deputy chief economist Anna Leach said.
