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17 February 2015

Shropshire, Herefordshire & Worcestershire FSB reacts to fall in the Consumer Prices Index

Reference number: FSB PR 01/2015

Commenting on today''s fall in the Consumer Prices Index, John Allan, FSB National Chairman said:

"The record fall in inflation will be welcomed by business, who have benefitted from low oil prices. Low inflation will boost consumer spending power, providing welcome momentum to growth in 2015. We see the risks of sustained period of deflation as low, but would urge policymakers to be ready to act should these risks increase."

Richard Asghar-Sandys, Chairman for FSB Shropshire, Herefordshire & Worcestershire, added:

"Basic expenses such as fuel and energy obviously have a big impact on how competitive local businesses can be.  Continued low prices will be something that businesses will be able to factor into their business plans and pricing strategies, but, as John Allan says, when things change, which they will inevitably do eventually, we must be ready for that also!"