Summary

• PMI survey data showed the steepest rise in global input cost inflation for three-and-a-half years in May, which fed through to sharply higher selling prices for goods and services.
• With stronger or highly elevated rates of selling price inflation seen across all major developed economies, this points to higher consumer prices in the months ahead.
• Especially steep rates of selling price inflation (across goods and services) were again recorded in the UK and Brazil.

PMI survey data showed the steepest rise in global input cost inflation for three-and-a-half years in May, which fed through to sharply higher selling prices for goods and services. With stronger or highly elevated rates of selling