U.K. Inflation Falls to 3.9%

'Consistent reductions in the overall rate of inflation is good news for the economy but it will feel far from reality for hospitality businesses.'

Dec 21, 2023 - 21:31
U.K. Inflation Falls to 3.9%

The Office for National Statistics has announced that the rate of inflation has fallen to 3.9%.

UKHospitality Chief Executive Kate Nicholls said: “Consistent reductions in the overall rate of inflation is good news for the economy but it will feel far from reality for hospitality businesses.

“Venues continue to feel the pain of energy, food and drink costs that continue to rise at a far higher rate.

This will be compounded in April when business rates rise yet again for the vast majority, putting further pressure on consumer prices and risking an unwanted inflationary spike.

“We’re urging the Government to reconsider it’s decision to put up business rates by over 6% in England and instead use the forecasted April rate of inflation of 3%, which would relieve some pain for businesses.”