{"id":72918,"date":"2022-01-21T10:12:09","date_gmt":"2022-01-21T10:12:09","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72918"},"modified":"2022-01-21T10:12:11","modified_gmt":"2022-01-21T10:12:11","slug":"rising-costs-seep-into-every-sector-of-uk-economy","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/rising-costs-seep-into-every-sector-of-uk-economy\/","title":{"rendered":"Rising costs seep into every sector of UK economy"},"content":{"rendered":"\n<p>Every sector of the UK economy is suffering from swelling costs in a sign that inflation will trend much higher in the coming months, reveals a fresh study published today.<\/p>\n\n\n\n<p>Higher wages, compounded by soaring energy and raw material costs, are severely eroding firms margins, according to research carried out by high street lender Lloyds.<\/p>\n\n\n\n<p>The fresh figures reinforce official data published by the Office for National Statistics yesterday showing British businesses\u2019 input costs have soared 13.5 per cent over the last year.<\/p>\n\n\n\n<p><em>To find out more about how we can assist you with your <strong>Second Charge Mortgage<\/strong> please <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/contact-us\/\" target=\"_blank\">click here<\/a><\/em><\/p>\n\n\n\n<p>Jeavon Lolay, head of economics and market insight at Lloyds, said firms\u2019 cost backdrop remains \u201cacute as higher energy prices and wage bills pushed up firms\u2019 expenses\u201d.<\/p>\n\n\n\n<p>Widespare cost increases have ensnared British businesses since the UK emerged from Covid-19 restrictions last spring, mainly triggered by a global supply chain crisis and an energy crunch on the Continent.<\/p>\n\n\n\n<p>The spread between British firms\u2019 costs and prices is the joint highest of any country tracked by Lloyds, raising the prospect of inflationary pressures worsening if businesses hike prices in an effort to shield their margins.<\/p>\n\n\n\n<p>A looming 1.25 percentage point NI hike this April will add to firms\u2019 costs.<\/p>\n\n\n\n<p><em>By JACK BARNETT<\/em><\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.cityam.com\/rising-costs-seep-into-every-sector-of-uk-economy\/\" target=\"_blank\">City AM<\/a><\/p>\n\n\n\n<p><em>Discover our <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/\" target=\"_blank\"><strong>Second Charge Mortgage Broker<\/strong><\/a> services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every sector of the UK economy is suffering from swelling costs in a sign that inflation will trend much higher in the coming months, reveals a fresh study published today. Higher wages, compounded by soaring energy and raw material costs, are severely eroding firms margins, according to research carried out by high street lender Lloyds. 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