UK builders fight record price rise

28 August 2012
Rising oil and steel prices pushed input cost inflation for UK builders to a record high in May.

According to the latest purchasing managers' index (PMI) from CIPS and NTC Research, the input price index stood at 75.7. An index of 50 indicates no change on the previous month.

The record high in oil prices and China's appetite for steel took the index to the highest since the survey began in 1997.

The seasonally adjusted PMI, a composite indicator of...

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