Kate Nicholls, Chief Executive of UKHospitality, said: “Hospitality has weathered unprecedented costs, including from government policy. Today’s inflation data continues 18 months of improvement and we are now at a normal level of inflation.
“The trend is clear, and the Bank of England can now act with confidence. It’s time for interest rates to come down to support businesses investing in their growth. We should be ahead of the curve not behind it.”
About UKHospitality:
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UKHospitality is the leading trade body for hospitality, representing every corner of the sector. We represent more than 130,000 venues, from pubs, bars and restaurants to hotels, indoor leisure and contract catering.
We work on behalf of a sector at the heart of the everyday economy; contributing £93 billion annually to the economy, generating £54 billion of tax for the Treasury and employing more than 3.5 million people as the third largest employer in the UK.
Our members benefit from our dedicated campaigning to empower an environment for hospitality to thrive, in addition to expert insight, specialist support helplines and guidance on the key issues facing hospitality businesses.
