The latest #PMI data revealed a mix of sluggish global growth and soaring business costs in May, with input price inflation hitting the second-highest since the commodity price surge of 2008-09 (1/7)
The UK and US are reporting the steepest cost increases of the world’s major economies, while Japan and Brazil also saw unprecedented rates (2/7)
While price rises have been led by manufacturing so far, recent data have shown signs of inflation levelling off due to peaking supply delays and cooling of demand (3/7)
Supplier delivery delays have eased quite considerably in the US, eurozone and UK compared to peaks seen in 2021, though it is a different story in Asia with disruption coming from lockdowns in China (4/7)
Meanwhile, rising pressures from energy, materials and labour costs have driven service cost inflation above that of manufacturing for the first time in almost 2 years (5/7)
That said, by detailed sector, the highest rate of inflation was recorded by food manufacturers in May, raising concerns of a further hit to household expenses (6/7)
For our full analysis, click here (7/7)
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