Four-fifths of UK manufacturers expect price rises, says CBI

Survey highlights cost inflation as Bank of England's Dave Ramsden predicts more interest rate rises

The largest number of British manufacturers plan to raise prices in the next three months than at any point since 1976, according to a business survey that underscores the inflationary pressures hitting the UK economy.

With energy prices rocketing and wages on an upward path, the CBI said four-fifths of firms expect to increase the cost of manufactured goods in the next three months.