This week’s announcement about inflation rate in the UK raises more comments. Insolvency and retail expert Owen Bassett (pictured) from leading trade credit insurer Atradius UK, says:
“Wednesday’s announcement could mark a turning point for the UK economy, with the inflation rate news offering a major boost for UK businesses. While the cost-of-living crisis continues to put pressure on firms and consumers, the positive impact of interest rate cuts is being felt and will be boosted by this week’s news.
“Our claims data revealed an 18 per cent decline in payment default claims for UK businesses in Q1, showing increased stability overall – a great sign in the wake of record insolvency rates since the pandemic (including a 30-year high last year).
