News / Press release / Economy

Inflation falls – our response

The rate of inflation fell slightly to 7.9% in June, down from 8.7% the previous month. The decrease was larger than expected but food inflation for consumers remained stubbornly high at 17.3%.

Our response

Our Chief Executive Kate Nicholls said: “The rate of inflation reducing more than expected is good news for hospitality businesses, but it remains the case that food and energy costs are incredibly high.

“This reinforces that for inflation to fall further and faster, there needs to be more action to bring down those twin pressures of food and energy costs

“Hopefully today’s better than expected figures also give pause for thought on additional interest rate rises, which are already having a significant impact on the sector.”