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After inflation rose to 2.3%, East Midlands Chamber has given its reaction.
The latest estimated figures published by the Office for National Statistics are above the Bank of England’s target of 2% and higher than economists anticipated.
East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “While we’ve seen a trend of gradually falling inflation from the sky-high level we were at not all that long ago, news of a return to a level greater than the Bank of England’s 2% target will frustrate businesses already grappling with price pressures, the high cost of doing business and bracing for the impact of decisions announced in the Autumn Budget.
“East Midlands businesses highlighted inflation as their second biggest concern after corporate taxation in our most
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