{"id":8092,"date":"2024-04-13T21:00:47","date_gmt":"2024-04-13T18:00:47","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=8092"},"modified":"2024-04-13T21:00:47","modified_gmt":"2024-04-13T18:00:47","slug":"nearly-half-of-uk-companies-still-plan-price-increases-survey-shows","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=8092","title":{"rendered":"Nearly half of UK companies still plan price increases, survey shows"},"content":{"rendered":"
<\/div>\n
Almost half British firms plan to raise their prices over the coming year as they struggle with high wage bills, according to a survey that underscored why the Bank of England is cautious about cutting interest rates.<\/div>\n
The British Chambers of Commerce said 46 per cent of its member companies expected to raise prices over the next 12 months, down only slightly from 47 per cent in its previous quarterly survey published in January.<\/div>\n
Only 3 per cent of respondents expected to cut prices while 51 per cent saw no change.<\/div>\n
Staffing costs represented the main pressure on firms as a nearly 10 per cent increase in the minimum wage came into force on April 1.<\/div>\n
\u201cThe recent rise in the national living wage is good news for millions of employees,\u201d Shevaun Haviland, the BCC\u2019s director general, said. \u201cBut it comes at a time when labour costs pressures for business are already very high.\u201d<\/div>\n
David Bharier, head of research at the BCC, said the pricing expectations also reflected conflicts around the world and the costs of Britain\u2019s plan to introduce more post-Brexit checks on imports from the European Union later this month.<\/div>\n
The BoE has said the surge in wage growth last year is likely to fade only slowly, even with headline price growth now close to its 2 per cent target.<\/div>\n
The BCC survey showed 56 per cent of respondents expected turnover to grow over the next 12 months, unchanged from the previous survey three months ago.<\/div>\n
There was no overall improvement in business conditions as measured by investment, sales and cashflow, the BCC said.<\/div>\n
The BCC survey, Britain\u2019s longest-running private-sector business survey, was based on responses from 4,800 companies \u2013 92 per cent of them with under 250 employees \u2013 polled between Feb. 12 and March 12.<\/div>\n","protected":false},"excerpt":{"rendered":"

Almost half of British firms plan to raise their prices over the coming year as they struggle with high wage bills, according to a survey by the British Chambers of 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