April data indicated that business activity growth regained momentum across the UK private sector economy, after hitting a six-month low during March. This was supported by moderate upturns in both manufacturing production and service sector output. However, input cost inflation continued to accelerate sharply and was the highest since November 2022. This was led by a rapid increase in raw material prices in the manufacturing sector. Service providers also experienced a surge in cost pressures, largely due to higher fuel prices. The acceleration in service sector cost inflation since March was the greatest for a ... (full story)