Commenting on today’s inflation figures issued today by the Office for National Statistics, which showed CPI increase to 2.7 per cent in May from 2.4 per cent in April, Neil Eames, Development Manager for the FSB Wessex Region, said:
“FSB data released this week shows more firms are being hit by rising costs, with utility and fuel costs being the key drivers. The 2.7 per cent rise in CPI will be a concern for businesses that costs will rise further in the coming months. We know that inflation is unlikely to fall in the near future, which will put pressure on business and household finances. It also further increases the divide between living costs and wages which is acting as a drag on the whole economy and hitting retail sector particularly hard.