LCCI comment on ONS inflation figures

Wednesday 16 September 2026

In response to the latest inflation figures from the ONS, Karim Fatehi OBE, CEO of the London Chamber of Commerce and Industry (LCCI), said:

“Inflation rising above 3% will add further pressure to London businesses already facing high operating and energy costs. With petrol and energy prices driving much of the increase seen in August, firms are once again being asked to absorb rising costs at a time when margins are already under strain. LCCI's latest Quarterly Economic Survey highlighted that inflation is the leading external concern for the capital's business community, with 47% of businesses reporting greater concern about it than in the previous quarter.

This makes it all the more important that the upcoming Budget does not add to the cost of doing business through further tax rises or regulatory burdens. Instead, the Government must take meaningful action to reduce costs, such as reversing the increase in employer National Insurance and delivering business rates reform. This will give firms the confidence to invest, grow and create jobs, while helping to tackle the underlying drivers of inflation.

Without action to ease the burden on businesses, there is a risk that higher operating costs will feed through into higher prices for consumers. Delivering on the Prime Minister’s commitment to give consumers breathing space must start with reducing the costs businesses face.”

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