Responding to new ONS inflation figures, which show that the consumer prices index fell to 2.6% in the 12 months to June, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“Businesses and consumers alike will welcome a dip in inflation, but the fall is likely to prove fleeting following a recent escalation in the Iran war.
“Against that backdrop, it’s critical that the new Government moves swiftly to deliver the Prime Minister’s vision for good growth in every postcode.
“That means giving London and other parts of the country the powers they need to drive local growth, easing cost pressures for homebuilders, and accelerating delivery of major infrastructure projects that create UK-wide opportunities.”