Chamber news: Easing Inflation Positive News But Long-Term Worries Persist

Dec 20, 2023

Today’s data showing the CPI rate grew at 3.9% in November, a greater slowdown than expected, is welcome confirmation that the headline rate of inflation is continuing to ease. However, prices are still rising from a very high base, following multiple economic shocks and core CPI remains stubborn at 5.1%.

“Supply chain issues during the pandemic and the energy price shock from last year, continue to work their way through the system. Our most recent forecast expects the CPI rate to be higher than the Bank’s 2% target until the end of 2025.

“While producer prices continue to fall, with –2.6% growth this month, global conflicts such as the war in Gaza could lead to further supply chain breakdowns and higher fuel prices in the short term.

“Persistent inflation and high interest rates are likely to remain a barrier to business growth for some time to come. Coupled with trade barriers with the EU and ongoing worker shortages, it’s not clear how large-scale growth will be unlocked. Businesses are desperate for a clear, long-term plan for growth which sets out a vision for infrastructure, skills, and green innovation.”

Council shares more detailed plans for Huddersfield Market

17 July 2024   Kirklees Council have shared brand new visuals, and more detail, on the planned improvements to Huddersfield Market. Once completed, Huddersfield Market will provide an improved traditional market, a better food and beverage offering to complement the...

read more
Patrons news: BUSINESS OF THE YEAR AWARDS 2024

Patrons news: BUSINESS OF THE YEAR AWARDS 2024

On Friday 28th June 2024, over 150 gathered for Eaton Smith’s Business of the Year Awards 2024 at the John Smith’s Stadium. The 12 monthly winners from the 2023/24 series of the Business of the Month Awards were all in contention for the Award which celebrates the...

read more

Our Patrons