UK Economists Warn of Rising Factory Inflation Due to Higher Oil Prices
UK economists are cautioning that rising oil prices are likely to increase factory inflation pressures. The Confederation of British Industry's Industrial Trends Survey indicates that UK manufacturing remains weak, with the headline orders balance at -45 in July. Despite a slight improvement from June, the manufacturing sector is expected to face continued challenges due to elevated energy costs and global trade uncertainties. Pantheon Macroeconomics suggests that the recent surge in crude oil prices has not yet been fully reflected in manufacturers' pricing intentions, but it is anticipated to influence price expectations in the coming months. 
