John Rider, chairman of the Institute of Directors in the West Midlands, said the fall in inflation was “very welcome”.
He added: “It is another indicator that things may be getting a bit better. Inflation is now at a two-and-a-half-year low and, coupled with further quantitative easing and Government efforts to stimulate lending, the platform is there.
“Hopefully this will persuade commerce and industry in the region to have greater confidence in the future. The negatives still exist – worries about global, European and UK growth – but it is more important to make the most of the positives.”
