BCC comments on inflation figures

16th November 2016

Commenting on the inflation figures for October 2016, published today by the ONS, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said: -While the slight fall in inflation in October will surprise many, the significant rise in the cost of raw materials suggests that price growth is likely to resume its upward trend in the coming months.

The uncertainty over Brexit is likely to maintain the downward pressure on sterling's value, and push prices higher over the next year. -Rising inflation is likely to weigh heavily on the UK's near-term economic outlook by reducing disposable incomes in real terms and increasing input costs for businesses. Therefore, next week's Autumn Statement must focus on measures to boost confidence and growth, including directly investing in our infrastructure and supporting business investment.

You might also be interested in

Price Pressures Persist for Business

Wed 18th June 2025

Responding to the latest inflation data, published by the ONS this morning, David Bharier, Head of Research at the British Chambers of Commerce said:

What’s a Sheffield snooker hall owner doing going to an “AI for Health” innovation event in Bochum, Germany?

Wed 18th June 2025

This year marks the 75th anniversary of the twinning between Sheffield and Bochum, Germany.

US Tariff Relief For Automotives And Jet Engines

Tue 17th June 2025

Reacting to news that the US President has signed an Executive Order on the trade deal with the UK, William Bain, BCC Head of Trade Policy, said:

Sheffield Hallam achieves re-accreditation as a University of Sanctuary

Tue 17th June 2025

Sheffield Hallam has been re-accredited as a University of Sanctuary for its commitment and continued efforts to provide a place of welcome and support for refugees and people seeking sanctuary at the University and in the community.