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Birmingham Post
Birmingham Post
Business
Hannah Baker

UK inflation: soaring petrol and energy costs forcing South West firms to hike prices

Business owners in the West Country are growing increasingly concerned about the impact of inflation, with many saying they are being forced to hike prices as they battle with soaring costs.

An economic survey of some 400 firms by chamber of commerce Business West found nearly two-thirds are worried about rising costs - up from 63% in the first quarter of 2022 and the highest level recorded since the survey question was introduced in 2008.

The results come as the UK’s annual rate of inflation reached a 40-year-high in May.

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