UK exporters have ‘hoarded’ gains from fall in sterling, says ONS

Analysis shows companies increased export prices after Brexit vote rather than expanding production or increasing jobs

Britain’s manufacturing exporters have “hoarded” the gains from last year’s fall in sterling by putting up prices rather than increasing output and sales.

The Office for National Statistics said exporters could have allowed their prices to decline in line with the fall in the pound, making their products more attractive to foreign buyers, but chose to boost their profits instead.

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