UK private sector firms experienced another month of rapid input cost inflation, according to November PMI® data compiled by IHS Markit and CIPS. The latest increase in average cost burdens was the fastest since this index began in January 1998, driven by higher wages and a spike in prices paid for fuel, energy and raw materials. Customer demand continued to rise sharply in November, despite the pass through of higher costs to clients, with the overall rate of new order growth accelerating to a five-month high. Service providers reported a faster recovery in new work than goods producers. Subdued momentum in the ... (full story)