LONDON: Britain’s inflation surged more than expected to the strongest pace in more than nine years, prompting investors to anticipate a sharper increase in interest rates next year. More enduring signs of inflation both in the cost of transport and those shouldered by manufacturers point to higher prices for raw materials and labour. The increase in inflation between July and August was the biggest since the current series of data started in 1997. There were more enduring signs of inflation that may not slip away so quickly. There was further evidence of cost pressures building beyond the consumer level, with the fastest increases since 2011 for producer output and input prices.

Source: The Star September 15, 2021 23:34 UTC