South Wales Chamber of Commerce comment on inflation figures

David Russ, managing director of the South Wales Chamber of Commerce, said:

“It was disappointing to see that there was no fall in inflation for September. The British Chambers of Commerce has forecasted inflation to fall gradually this year, however, the current pace appears to be slower than was originally anticipated.

“Above target inflation is one of the main reasons that the UK economy has relatively underperformed over the last few years and while we are still going through a period of recovery, we need to see inflation fall to ease pressure on both businesses and consumers.

“The feeling in the business community is positive, and our last QES showed that on the whole, businesses are confident about their immediate futures. However, growth remains fragile, and the governments in Wales and Westminster must do everything possible to maintain economic stability.”