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UK Companies Show Decreased Plans to Raise Prices, Survey Reveals

2024-07-07 22:56:58.726000

In the United Kingdom, a survey conducted by the British Chambers of Commerce indicates that fewer companies are planning to increase prices in the coming months. The survey, which polled 4,967 companies between May 13 and June 10, found that 39% of member companies expect to raise prices over the next three months, down from 46% in the previous survey [af3637f4]. Despite this decrease, the survey also revealed positive trends, with sales and cashflow improving in the second quarter of 2024. Additionally, the share of firms expecting an increase in turnover in the next 12 months rose to 58%. However, the survey highlighted that 75% of respondent firms were still not increasing investment [af3637f4].

This survey provides insight into the economic picture in the UK, particularly in relation to inflation and investment. The decreased plans to raise prices suggest that companies may be cautious about passing on higher costs to consumers. This could have implications for the Bank of England's interest rate decisions, as lower inflationary pressures may influence the central bank's approach to monetary policy. Additionally, the survey's finding that a significant portion of firms are not increasing investment indicates a level of uncertainty or caution among businesses [af3637f4].

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