Welcome to the Scottish Chambers of Commerce website

Loading
<< July 2011 >>
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      

Press Releases

Please use the calendar on the left to search our archives.
Thank-you.

WELCOME FALL IN INFLATION MAKES BANK’S JOB EASIER

[ 12-07-2011 ]

Commenting on the news that the rate of CPI inflation fell from 4.5% to 4.2% in June, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 

 
“This is an unexpected but welcome fall in the rate of inflation and it makes the prospect of a premature rise in interest rates an even more unlikely proposition.  The Scottish economy is in a fragile recovery phase and any shocks to the system, such as an early rise in base rates, could destabilise it.
 
“Though inflation remains high, it is the prices of food, raw materials and energy that are causing upward pressure.  A rise in interest rates would depress consumer demand even further but would have little effect on core inflationary pressures.
 
“These latest inflation figures should make the Bank of England’s job a little easier over coming months.”

back