"With inflation rising to 3.5%, it's the first time we've seen it push past the 3% mark since March of last year. This is a clear indication that cost pressures remain stubborn, particularly in areas like energy and food. While many businesses may be tempted to put up prices again, that option is becoming less viable. Consumers continue to feel the squeeze and their patience for further price increases is wearing thin.
"Short-term fixes aren't the answer, so businesses
will need to turn their attention to driving long-term efficiency,
rethinking procurement strategies, supply chain strength and
visibility, alongside finding smarter ways to manage costs.
Although recent economic figures offered some optimism, the
recovery remains at a tipping point between rising input costs and
the need to protect margins for the busy summer months that lie
ahead."
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