The rising cost of food and fuel drove the price of goods leaving Britain's factory gates to a 16-year high in November, raising doubts about a further easing of monetary policy over the coming year, The Independent reports.
New figures from the Office for National Statistics, published yesterday, revealed that the annual output price inflation for all manufactured products touched 4.5 per cent, above forecasts of 4.3%, and second only to the August 1991 record of 5.2%. Month on month, factory gate prices were up 0.5%, as the cost of raw materials rose 3.4% – mainly accounted for by the sharp rise in the oil price. The report prompted some economists to reconsider their optimism over further cuts in 2008. DRESDNER KLEINWORT, THE German investment bank, is set to make more than 200 staff redundant in the wake ...
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