Unless you’ve been living on the moon or are fortunate enough to be extremely wealthy, you’ll have noticed that most things are climbing sharply in price. This inflationary climate is proving extremely challenging, with prices currently rising at 9% a year in the UK - the highest rate for 30 years. The Bank of England has warned that inflation might reach 10% within months. Of course, this all affects businesses just as much as individuals. The CBI said in February that four-fifths of UK firms expected to increase the cost of manufactured goods in the period March-May 2022. The impact of that action further up the manufacturing supply chain is not without its repercussions. Everything from raw materials such as metals and plastics, through to consumable commodities, are on an upward price trajectory, largely because the cost of energy to produce and transport these items is skyrocketing. So, what’s the answer? Well, although interest rate rises will serve to dull the effect of inflation, it will likely take more to bring price rises under full control, particularly in the manufacturing supply chain. Machine shops must therefore try to offset these added costs through in-house efficiencies, which is why investment should continue. Investing in the latest manufacturing technologies - such as machine tools, cutting tools, work- holding equipment and software - will drive up profitability and stand a business in good stead when inflation begins to slow. You’ll find a number of investment stories throughout our current issue that set out the benefits this strategy brings. There are still some great finance deals available, so let’s not let inflation quell the growing investment momentum we’ve all seen in recent months. That would be a very high price to pay. Laura Crawford Editorial Director Don’t pay the price of low investment
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