small manufacturers increase prices

Small Manufacturers Increase Prices

Small Manufacturers Increase Prices

A new study shows that smaller firms are pricing up their products as costs increase. The CBI in its April SME Trends Survey, highlights the fact that many small and medium-sized manufacturers have had to sharply raise prices under the highest pressures from costs in over 20 years. 20% of firms are reporting an increase in prices over the past 3 months, that’s the highest proportion since 1995 where 32% of firms were raising their prices. In the three months until April, 51% of SMEs said their average unit costs had gone up whilst only 7% had seen a decrease. The increases are chiefly due to rising raw material and energy costs. In addition there are reports that the same firms have seen demand for their products fall with export orders falling despite the weaker pound. During the sa... »