CBI: Inflation creeps higher, putting pressure on firms

15 Feb 2017 11:40 AM

The CBI has responded to the latest CPI inflation figures, released by the Office for National Statistics.

Image of Inflation creeps higher, putting pressure on firms

Rain Newton-Smith, CBI Chief Economist, said:

“Inflation has continued to creep higher, and we expect it to rise even further over the year ahead.

“Companies are already feeling the impact of the lower pound, with input price inflation now well into double-digits.

“It’s crucial that the Government doesn’t put any further pressure on firms in the upcoming Budget – top of our list is for the Government to tackle the UK’s outdated business rates system.”