THE fall in inflation has been welcomed by the vice-president of Black Country Chamber of Commerce.
Commenting on the inflation figures for January, published today by the ONS, Ninder Johal said: “Today’s figures reveal that annual CPI inflation is at 1.9% in January, 2014, down from two per cent in December, 2013.
“This is positive news for businesses that inflation has fallen below the two per cent target. This will help to strengthen the Bank of England’s revised forward guidance policy that an early rise in interest rates is neither necessary nor likely.
“The low inflation and low interest rates will allow firms to look to future development. The economy still faces challenges and the Budget announcement next month will be very interesting, to see what measures the Chancellor will implement to boost the economy.”
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