CBI responds to latest inflation figures

Anna Leach, CBI Deputy Chief Economist, said:

“Inflation has picked up again, and we expect it to stay elevated over the year ahead, particularly as global price pressures remain strong. The result will be much pain for those businesses most exposed to higher costs, and a historic squeeze on households’ incomes.

“The void left by falling household spending must be filled by government action to shore up both near and long-term economic growth.  Committing to a permanent successor to the superdeduction, as well as supporting green infrastructure and technologies that help cut energy bills in homes and businesses, will both boost economic confidence and reduce exposure to volatile global energy prices.”