Producer price figures should ease MPC's concern

Commenting on the August producer prices figures published today by the ONS, David Kern, Economic Adviser to the British Chambers of Commerce, said:

"The fall in August producer price inflation was bigger than expected, reinforcing hopes that annual CPI inflation will peak soon. The fact that producer price inflation fell markedly  in August, in spite of the sharp falls in sterling, should ease some of the MPC's concern over a possible resurgence in inflation. With oil and commodity prices continuing to ease, the MPC should be in a position to start cutting interest rates in the next 1-2 months."
 

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Media Contacts:

Fiona Cunningham
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Email: f.cunningham@britishchambers.org.uk

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Notes to Editors:

The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.