Survey finds labour shortages driving Cost pressures for Britain's factories are growing at their fastest pace since 1980 as companies struggle to find workers to meet growing demand, a leading business lobby group has said.
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Survey finds labour shortages driving Cost pressures for Britain's factories are growing at their fastest pace since 1980 as companies struggle to find workers to meet growing demand, a leading business lobby group has said.
The CBI warned that higher manufactured goods prices were inevitable after its monthly healthcheck of industry showed labour shortages at their most acute in almost half a century.
The survey of 236 firms found orders picking up over the three months to January, but output growth was limited by bottlenecks.
Rain Newton-Smith, the CBI’s chief economist, said: “Global supply-chain challenges are continuing to impact UK firms, with our survey showing intense and escalating cost and price pressures.”