WNY Chamber responds to the latest ONS inflation data

Responding to the latest inflation data, published by the ONS this morning, Mark Casci, head of policy and representation at West & North Yorkshire Chamber of Commerce, said: “The news that inflation has declined to three per cent in January will be welcomed by our members who have repeatedly cited rising costs as a chief external pressure for the past few years.

“The easing of inflation now further underlines the argument for the Bank of England to cut interest rates at its next MPC meeting.

“The cost of doing business is at eye watering levels, meaning that investment plans and hiring intent is near zero for many employers.

“If the current government is serious about boosting economic growth it needs to enable the drivers of economic activity to do this, and reducing costs is at the heart of this mission.”