UK manufacturers faced their sharpest one-month cost inflation surge since 1992 as Middle East conflict drove up oil and energy prices, according to purchasing managers' index data released Tuesday. The composite PMI index fell to 51 in March from 53.7 in February, indicating significantly slower economic growth while cost pressures mounted across fuel, transportation and raw materials.
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UK manufacturers faced their sharpest one-month cost inflation surge since 1992 as Middle East conflict drove up oil and energy prices, according to purchasing managers' index data released Tuesday. The composite PMI index fell to 51 in March from 53.7 in February, indicating significantly slower economic growth while cost pressures mounted across fuel, transportation and raw materials.