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Birmingham Post
Birmingham Post
Business
Tom Pegden

UK heading for ‘cost of doing business' crisis as inflation hits 30 year high

United States United Kingdom East Midlands Chamber East Midlands

The UK is headed for a potential crisis over the spiralling cost of raw materials, labour, shipping and energy.

East Midlands Chamber has warned that the rise in the cost of living was creating a perfect storm of higher prices combined with households having less to spend due to rising energy bills.

UK inflation has reached its highest level in 30 years, topping 5.4 per cent in December.

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