UK firms brace for further Brexit price rises, surveys show

Manufacturing and construction sectors air concern over rising import costs with companies facing 'more risks than opportunities' in 2017

British companies are grappling with higher costs and bracing for further pressure in the months ahead as the start of Brexit talks threatens to drag the pound down further and ramp up the price of imports to the UK.

Reports from the manufacturing and construction sectors on Monday point to a sharp rise in the prices paid for materials by firms in Britain and worries that their profit margins will be squeezed as they decide how much of those higher costs they can pass on to customers.