The price of goods manufactured in the UK rose at the fastest rate in eight months in February, according to a survey by the Chartered Institute of Purchasing and Supply.

The output price of goods hit a score of 59.9 on the organisation's index, where anything over 50 represents an increase.

The news will raise concerns again over the possibility of inflation spiralling out of control and makes it less likely that the Bank of England will cut interest rates again in the near future.

The rise in manufacturing prices is being blamed on a hike in the price of raw materials throughout the world, due in part to greater demand from countries such as China and India.