Mid Wales business chief welcomes 'encouraging' inflation move

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A business chief has welcomed last week's official inflation figures which showed an unexpected steep fall in the UK’s rate of inflation after months of disappointing data on the rising cost of living.

The Consumer Prices Index fell to 7.9% last month, down from 8.7% in May and its lowest rate since March 2022, as food price inflation eased and fuel prices dropped sharply year-on-year.

“The quarter two figures show that inflation was more of a concern to two thirds of businesses in Wales than in the previous quarter, so the latest figures are welcome news following months of stagnant rates.

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