UK services firms report sharpest rise in costs since late 2022
UK services firms report fastest cost inflation since 2022, driven by war-related price hikes; 57% of companies now pass increased burdens onto customers.
- On Wednesday, British services firms reported the sharpest acceleration in cost pressures in three-and-a-half years as the Iran war drove up prices for fuel and raw materials.
- The Services PMI Business Activity Index rose to 52.7 in April from 50.5 in March, indicating modest expansion despite headwinds from the Middle East conflict.
- Input costs surged as 57% of survey respondents reported increased burdens in April, up from 40% in March, while employment contracted for the 19th consecutive month.
- Prices charged by businesses rose at the fastest pace in more than three years, prompting The Bank of England to monitor inflation to assess if interest rate hikes are necessary.
- Global Market Intelligence economics director Tim Moore warned the modest output recovery could prove short-lived as new business intakes remained subdued compared to the start of 2026.
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The Independent
perspectivemedia.comUK services industry faces ‘short-lived’ rebound as costs rise sharply
The S&P Global UK services PMI survey showed a reading of 52.7 in April, up from 50.5 the previous month.
UK services firms report sharpest rise in costs since late 2022
British services firms last month reported the sharpest acceleration in cost pressures in three-and-a-half years as the Iran war drove up prices for fuel and raw materials, a closely watched survey showed on Wednesday.
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