UK Factory Gate Inflation Accelerates to Two-Year High in June

UK factory gate prices rose at their fastest pace in two years in June, according to official data, feeding concerns that inflation may stay too hot for the Bank of England’s comfort as firms cope with a raft of cost increases.

Prices charged by firms for their manufactured products increased 1.9% in the year to June, up from an annual 0.7% rise in April, the Office for National Statistics said on Wednesday. The largest jumps were registered by food products and textiles, clothes and leather goods.