UK Firms Trim Price Hike Expectations Amid Ongoing Energy Pressures

UK businesses expect their prices to rise by 3.7% over the next year, according to the Bank of England's latest Decision Maker Panel (DMP) survey.

This is a slight decrease from their previous estimate, even as higher energy costs continue to put pressure on profit margins.

The survey found that actual annual price growth also stood at 3.7% in the three months to September, unchanged from the previous period.

Broader inflation expectations remained stable, with businesses expecting consumer price inflation (CPI) to be 3.1% one year ahead and 2.8% three years ahead.