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Retail NI Comments on Inflation

Commenting on Inflation reaching 3.1%, Retail NI Chief Executive Glyn Roberts said:

“Inflation reaching 3.1% will be a cause for concern for hard-pressed consumers and retailers as we approach Christmas”

“That being said, the Bank of England and many other economists have said the inflation figure has now peaked and is likely to decrease in the coming months”

“We would urge the Bank of England to be very cautious with any further interest rate increases in 2018, given its impact on many mortgage holders’ disposable income and the likely decrease in spending with retailers”

 

Glyn Roberts 07515710517