Economy The impact of sterling depreciation on prices and turnover in the manufacturing sector
The sterling effective exchange rate depreciated 20% between November 2015 and October 2016, including a record 6.5% fall between June and July 2016 following the EU referendum vote.
This led to higher input costs for UK manufacturers due to rising prices for imported raw materials and fuels and also higher output prices for exported goods in sterling terms. Employment and labour market Index of UK labour costs per hour, experimental: April to June 2017
The whole economy Index of Labour Costs per Hour (ILCH), seasonally adjusted, increased by 1.4% in Quarter 2 (Apr to June) of 2017, compared with Quarter 2 2016 and recorded 0.9% growth compared with the previous quarter, Quarter 1 (Jan to Mar) 2017.
Wage costs per hour worked increased by 1.2% in Quarter 2 2017 compared with Quarter 2 2016 and non-wage costs per hour worked increased by 3.9%. | 
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