According to the ONS, the Consumer Prices Index (CPI) rose by 2.6% in the 12 months to November 2024, up from 2.3% in the 12 months to October.
Our response
Kate Nicholls, Chief Executive of UKHospitality, said: “The continued increase in inflation is concerning, and inevitably makes day-to-day life harder for businesses and consumers. Combined with lacklustre growth figures, it makes for a troubling economic picture.
“Despite these inflation figures, incentivising growth should remain the central goal for the Government, and the Bank of England can play an important role tomorrow by lowering interest rates.
“Changes to employer NICs, particularly lowering the threshold, remains the biggest barrier for hospitality businesses and we urgently need the Chancellor to rethink these changes to protect businesses and team members.”
