Business West, one of the largest Chambers of Commerce in the UK, has published the findings of its latest Quarterly Economic Survey.
The South West chamber found that staff costs remain the leading source of price pressures for 68% of respondents. This is up 4 points since the same period last year and 74% for manufacturing businesses.
However, the report showed a drop in the number of respondents planning to increase prices in the next three months; with 40% expecting to put prices up, falling from 45% in the first quarter of 2023.
