CBI Northern Ireland responds to latest inflation figures

Angela McGowan, CBI Northern Ireland Director, said:

“We’ve not seen the end of rising inflation yet. 

“Businesses are seeing strong price pressures further up the supply chain and wholesale energy prices look set to remain high.  Without doubt the cost of doing business will also continue to climb sharply for local firms.

“Solutions must be found for companies that are struggling with ever-growing cost burdens, especially energy-intensive businesses. This should be a precursor to longer-term energy market reforms.  Both government and business need to urgently explore ways to build resilience against future energy price shocks.”