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FALL IN INFLATION IS WELCOME ECONOMIC MILESTONE

Tue, 2014-01-14 12:54

Commenting on the news that the headline CPI rate of inflation has fallen to the Government target of 2%, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:

“The news that inflation has fallen back to its target level for the first time since 2009 is good news for consumers and businesses.  The high level of consumer demand has been one of the primary drivers of growth in the Scottish economy over the past year and if this is to be sustained then low levels of inflation will assist greatly.

“This should also ensure that the Bank of England is able to maintain low interest rates for some time to come, even if unemployment falls back below 7% this year.”