Inflation Remains a Real Concern for Business

14th February 2024

Alex Veitch, Director of Policy at the British Chambers of Commerce responding to the latest inflation figures from the ONS

Responding to the latest inflation figures from the ONS, Alex Veitch, Director of Policy at the British Chambers of Commerce said: 

?“Businesses need price stability, so today’s news that inflation remained unchanged in January is welcome.  

“However, firms consistently tell us inflation is their top concern. In our latest research 58% of firms citied it as a worry, though this has fallen in recent quarters from the highs we saw in 2022. 

“The Bank of England has already warned that inflation is likely to remain volatile over the coming months because of global uncertainty. The Red Sea crisis is causing supply chain disruption and price rises for businesses. 

“Next month’s budget is an opportunity for the Government to reassure and support businesses. Companies across the UK will be looking for a clear plan from the Chancellor that prioritises investment and skills.”

You might also be interested in

Skills Crucial To Economic Growth

Mon 22nd July 2024

Jane Gratton, Deputy Director of Public Policy at the BCC, responds to the launch of Skills England

King’s Speech: Industrial Strategy Can Release Business Ambition

Mon 22nd July 2024

Shevaun Haviland, Director General of the British Chambers of Commerce, responds to today’s King’s Speech

Inflation Holding Steady

Mon 22nd July 2024

David Bharier, Head of Research at the BCC, reacts to the latest ONS data on inflation

Sheffield FC Partners with Quickplay Sport

Mon 22nd July 2024

Sheffield FC are thrilled to announce that The Club have partnered with Quickplay - The World's First Football Club now with The World's Best Equipment.