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- Could you mentor the next generation of Entrepreneurs?
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- “UK will miss out on investment because of poor air connections”
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- Chamber Crime Team Retain Safer Business Award
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- Chambers unite to support Northern Rail Improvements
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- Liverpool Central closing for redevelopment in April
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- Weak GDP supports need to go beyond Budget with more policies to boost growth, says BCC
- Chamber Member ACC Liverpool Top Of The Class With Trio Of Teaching Conferences
- Fuel strike and panic buying could damage business growth
- Chamber Member DeskCentre Completes Major Work For The Contact Company
- Encouraging signs from businesses, but growth is still too slow
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- Chamber Member Viva Brazil Van A Ampliar Sus Operaciones
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- Chamber Member Ykids To Hold Believe Awards
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- Inflation will ease during 2012, but at a slower rate than expected
- New Merseyside Marketing Chairman
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- TV Licensing says Liverpool businesses must "get fit" to watch the Olympics
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- Support for more QE lessens
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Fall in inflation will accelerate next year
· Annual CPI inflation at 4.8% in November, down from 5.0% in October
· Annual RPI inflation at 5.2% in November, down from 5.4% in October
Commenting on the inflation figures for November published today by the ONS, Jack Stopforth Chief Executive of Liverpool Chamber of Commerce, said:
"The fall in inflation in November was as expected, and will accelerate in the early months of 2012. The latest British Chambers of Commerce forecast* predicts inflation will fall from an average of 4.5% in 2011, to 3.3% in 2012 and 2.0% in 2013. For annual average RPI inflation, it predicts an average of 5.2% in 2011, 3.5% in 2012 and 2.3% in 2013.
"The fall in inflation strengthens the case for an increase in Quantitative Easing (QE). The latest figure should reassure the Monetary Policy Committee that it is correct to persevere with expansionary measures. While an increase in QE is necessary, it is not on its own sufficient enough to support growth in the economy.
"The government must supplement any additional QE with other measures including the rapid implementation of its credit easing plans. In addition, moves to reduce regulation, and cut business rate increases next year, which are currently pegged to last September's peak inflation figure of 5.6%, would help businesses grow and create jobs."
