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East Midlands Chamber has commented after inflation fell to 1.7% in the latest estimated figures published by the Office for National Statistics.
The figure, for the year until September, is below predictions from most analysts and is the lowest since 2021.
East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “With the pressure businesses continually face to increase prices with the high cost of doing business, an easing in inflation with bring some comfort and, being below the 2% target set by the Bank of England, suggests an interest rate cut is on the horizon when they meet next month.
“Inflation was cited as the second biggest concern to businesses in the East Midlands after corporate taxation in our latest Quarterly Economic Survey. With high energy costs, this
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