ISME 'gravely concerned' at inflation hike

ISME, an independent business organisation, has expressed grave concern at the rise in the rate of inflation in May to a three-year high of 3.9%.

ISME called on the Government to outline the plans of the anti-inflation committee in the battle to address the biggest challenge facing business today.

Commenting on the figures, ISME Chief Executive, Mark Fielding stated: “The Pollyanna attitude of Government towards the economy needs to be curtailed and, while we can still maintain a well-founded sense of confidence, the danger is that of complacency.

"The country still needs a strategic Plan B to protect us from a sudden external shock, unforeseen technology change, an energy crisis or the inevitable correction in the domestic property market, any of which could ruin the gains of the last decade.”