ISME: Inflation figure masks picture for business

ISME the Independent Business Organisation has welcomed the reduction in inflation from 2.6% to 2.3%, but expressed concern that the official figure is masking increasing costs to business.

ISME Chief Executive Mark Fielding said smaller businesses have been faced with, on average, 10% increases in production costs over the last 12 months, more than four times greater than the official inflation rate.