East Midlands Chamber has said inflation holding at 2.8% will reduce anxiety for firms, amid what has been a challenging trading climate.
The latest estimated figure from the Office for National Statistics covers the 12 months to May 2026.
East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “While still above the Bank of England’s 2% target, firms will welcome inflation having held steady, when it was widely expected to increase. For those looking to borrow, there may be further breathing space this week if the interest rate is held unchanged this week, as is generally anticipated.
“Our latest Quarterly Economic Survey, for the second quarter of 2026 was published this week and, with the data compiled at the time the Middle East conflict had just begun, reveals the sense of uncertainty and extent of anxiety felt by business. Inflation topped the concerns of respondents in that survey, above business rates and corporate taxation, so the fact inflation has not, as yet, risen to the levels forecast, some of that concern should be reduced.
“To help business in the East Midlands thrive, I would urge policymakers to prioritise asks set out in the Chamber’s Framework for Growth. The publication calls for wider energy relief packages, business rates to be fully reviewed and skills reform so employers can fill roles with candidates that match the abilities they need. Actioning those asks would help unlock growth and incentivise business to invest to grow.”
To view East Midlands Chamber’s Framework for Growth in full, click here.
To view East Midlands Chamber’s Quarterly Economic Survey for Q2, 2026 click here.
