Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, said:
“Today’s good news that inflation has fallen to 3.4% will come as a relief to businesses and consumers alike. Over half of businesses in Wales had cited inflation as a key concern in our Quarterly Economic Survey in Q4 of 2023.
“This is a step in the right direction with regards to meeting the government’s 2% target. However, prolonged high inflation rates over the last two years have meant that prices have stabilised at a higher level and, coupled with high interest rates which are not expected to change significantly in the short-term, business uncertainty remains.
“Businesses will be hoping that the downward trend continues and begins to have an immediate impact on interest rates in the coming months to provide better economic conditions to plan, invest and grow Welsh business with confidence.”
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