LCCI responds to the rise in inflation | News and Insights | LCCI - LCCI
Skip to main content
1 / 3
News Flash
  • 1/3LCCI urges all parties involved in the current strikes to come up with a solution to get our world-class transport system back on track.LCCI urges all parties involvedRead more
  • 2/3Sadiq Khan must work with businesses for economic stability and growth.Sadiq Khan must work with businessesRead more
  • 3/3Read the latest London Business Matters MagazineLondon Business Matters MagazineRead more
London Chamber of Commerce and IndustryLondon Chamber of Commerce and Industry
Log in
Join LCCI
Contact Us

LCCI responds to unexpected rise in inflation

Wednesday 17 January 2024

In response to the latest inflation figures from the ONS Karim Fatehi MBE, Interim Chief Executive of the London Chamber of Commerce and Industry (LCCI), said:

“The surprise rise in inflation for December 2023 will cause concern for many businesses that are already battling high operating costs, particularly in London. LCCI’s latest economic survey highlighted that inflation remains the number one concern for London businesses.

“The rise will likely cause consumers to tighten their purse strings in the first instance, which in turn will have a detrimental effect on the retail, hospitality, tourism, and travel sectors in London.

“To avoid entering into a cycle where unexpected rises in inflation disrupt UK growth and productivity, the Government must look further ahead and implement a long-term, strategic policies that inspire macro-economic confidence and drive productivity growth. The Government must also address the high cost of finance that disproportionately impacts British SMEs – partly a consequence of higher interest rates. We look forward to the Spring Budget and hope that it will reflect the support needed for businesses.”

ENDS