East Midlands Chamber has said inflation having risen more than anticipated by economists to 3.5% means the Autumn Budget must ‘place business front and centre and create the conditions needed for growth’ as it called on the Chancellor to action the Five Asks outlined in its 2026 Budget Submission.
The rise in inflation to 3.5% for the 12 months to September, as published by the Office for National Statistics, is up from 3.1% in the 12 months to August and 2.9% the previous month.
East Midlands Chamber Chief Executive Scott Knowles said: “Soaring inflation was widely forecast from early in the year, driven largely by the impact of the Middle East conflict on fuel prices but business cannot be left with mounting costs that hamper investment.
“There must be intervention from policymakers so business is incentivised to invest to grow and the Autumn Budget is a perfect opportunity for measures to be announced that alleviate pressure on business.
“High costs for business lead to the stalling of investment intention – something we have seen throughout the year among East Midlands firms in our Quarterly Economic Survey – and without investment there can be no growth.
“The Autumn Budget must mitigate the immense pressure on business so it incentivises investment and unlocks growth by reducing costs and by providing the conditions needed for growth, as we have recently set out in our 2026 Budget Submission, which presents Five Asks for the Chancellor to prioritise in the Autumn Budget.
“Inflation was the number one concern of East Midlands businesses in our latest Quarterly Economic Survey and has held that position across every one of those surveys this year. When added to business rates, high energy prices and corporate taxation, a business eager to invest may find its hands tied and investment plans pushed back. That cannot happen.
“With just a week to go until the Autumn Budget on 28th October, the Chancellor should seize the opportunity to place business front and centre in measures announced that day and create the conditions needed for growth.”
To view East Midlands Chamber’s Five Asks for the 2026 Budget click here.
To view East Midlands Chamber’s Framework for Growth in full click here.
To view East Midlands Chamber’s Quarterly Economic Survey for Q3, 2026 click here.
