Solihull Chamber News Column - 24th August 2017
The Chamber’s Quarterly Business Report (QBR) always highlights some interesting information on what is happening in the business world which the Chamber represents. Work begins on a survey of our members this week.
While recent inflation figures provided positive news, we shouldn’t lose sight of the fact that wage growth is still lagging behind the rate of inflation and this will continue to have an impact on consumer spending power, a key driver of economic growth in the UK.
The largest downward pressure on inflation last month came from a fall in fuel prices. This was offset by smaller upward contributions from a range of goods and services, including clothing, household goods, gas and electricity, and food and non-alcoholic beverages.
It will be interesting to see from our QBR survey whether local businesses are still showing resilient levels of growth despite ongoing concerns around inflationary pressures and fluctuating exchange rates