Manufacturing costs hit new record

Manufacturing costs hit new record

www.guardian.co.uk

Official figures out today showed that factory gate inflation hit double digits for the first time on record, as manufacturers' costs jumped by a record 30% - due to the soaring cost of oil and food.

The Office for National Statistics said manufacturers' output prices rose 0.9% in June from the previous month, mainly because of higher oil and petrol prices. This pushed the annual rate up to 10%, the highest since records began in 1986.

The cost of oil and petrol surged by 34% last month

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Related News Links:
business.scotsman.com

This shows things are changing. With inflation as high as it is the powers that be may decide to move some of the manufacturing in the UK else where. So the question is where might it be moved to?

www.guardian.co.uk
(visit the link for the full news article)

reply to post by RedGolem

Five hundred jobs just gone at JCB, it's a real recession here on the cards. It's a shame as UK manufacturers have had a shake out and are in many cases world leaders in their field, but massive energy cost increases just can't be passed on to the customer, so it's looking like many nails in the coffin here of our industrial base. I know a tile manufacturer locally and their annual gas bill has increased by...........wait for it..............£2,000,000!

reply to post by ufoorbhunter


That is a good example.
It is to bad it could get worse before it gets any better.
I do wish you all the best.