More UK firms expect to raise prices than at any time since 1980s

British Chambers of Commerce survey suggests inflation surge will escalate further in coming months

More UK businesses are preparing to raise prices than at any time since the 1980s, heaping further pressure on hard-pressed consumers amid recent increases in gas, electricity and petrol prices.

The British Chambers of Commerce said its latest quarterly survey found almost two-thirds of firms expected to raise prices over the next three months, the highest since the survey began in 1989.