“Inflation was surprisingly unchanged in October, as falling fuel and furniture prices helped to a keep a lid on overall UK price growth.

“It remains probable that even if inflation drifts above 3% in the coming months, it will only remain in letter-writing territory for a limited period, with slowing price growth at the factory gate suggesting that supply chain price pressures are easing. The impact of the decline in the value of sterling following the EU referendum will slip out of the calculation by the end of the year, easing the increase in UK price growth.

“With UK economic conditions expected to remain subdued for a prolonged period, it is vital that the Autumn Budget pulls out all the stops to support business growth, at a time of significant uncertainty and change, including cutting up-front business costs.”

Ends

Notes to editors:

The British Chambers of Commerce (BCC) sits at the heart of a powerful network of 52 Accredited Chambers of Commerce across the UK, representing thousands of businesses of all sizes and within all sectors. Our Global Business Network connects exporters with nearly 40 markets around the world. For more information, visit: www.britishchambers.org.uk

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020 7654 5812 / 07920583381

Orla Hennessy – Press and Communications Officer

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