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IoD: Businesses far more worried about underlying inflation than the rising cost of debt

17 Nov 2021


Commenting on the news that CPI inflation rose from 3.1% to 4.2% in October, Kitty Ussher, Chief Economist at the Institute of Directors, said:

“While some of this increase is due to a higher household energy price cap and the phased ending of the hospitality VAT cut, these measures in themselves do not account for all of the rise in prices observed between September and October.

“At this point in time firms are far more worried about underlying inflation than the rising cost of debt.

“With interest rates at historic lows, we’re calling on the Bank of England to show it means business and get inflation expectations back in line with their mandate.”
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