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mpc: 22 Price indicators had given mixed signals on the month. Manufacturing input prices had risen sharply in May, driven by crude oil prices. The CIPS/NTC survey input price balances for June had risen further in both services and manufacturing. Manufacturing output price inflation had fallen in May, the CIPS/NTC output price balance for June was broadly unchanged and the expected price balance in the CBI Monthly Trends survey had reversed its rise in May. Both survey balances remained well above their ten-year averages. The Bank's regional Agents had reported that firms were looking to restore margins to their levels before the recent energy price shocks. In the services sector, the CIPS/NTC output price balance rose slightly, but remained only a little above its average over the past decade.