Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, said:
“Businesses in Wales will welcome today’s news that CPI inflation has finally met the Bank of England’s 2% target and is a sign that the UK is exiting the inflation crisis which began in late 2020. Businesses have consistently told us, in our Quarterly Economic Surveys, that inflation is a factor that causes them the most concern in planning their costs.
“Whilst the Bank of England may not make the immediate decision to cut interest rates tomorrow, today’s data provides additional weight for an interest rate cut in the near future.”
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