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UK businesses pushed to raise prices amid jump rise in costs
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British companies came under intense pressure to push up prices this month after they suffered the fastest rise in the costs of production on record.
Steep increases in the price of raw materials, higher fuel costs and strong wage demands in November combined to increase the average cost burden at the most rapid rate since 1998 when comparable records began.
According to a monthly survey by IHS Markit, while all private sector businesses were hit equally by the higher input costs, only manufacturers reacted by accelerating the rate at which they increase their own charges. The price of manufactured goods rose at the highest rate in 20 years.
Service industry firms reported that on average they were unable to pass on all the extra costs after
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