NTIA Says Inflation some way off easing Night Time Economy Cost of Operating crisis

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Responding to inflation figures released last week:

Michael Kill CEO NTIA says:

“While we see a positive reflection in the inflation figures released today, dropping sharply to 7.9% in line with Bank of England predictions for June, against 8.7% in May.”

“We are some way off suppressing the cost inflation crisis suffered across the night time economy and hospitality sectors. While this news is a positive step in the right direction for businesses and particularly consumers, many within the sector are concerned that the increase of alcohol duty, energy and insurance costs which have yet to be tamed will eradicate any benefit to the sector in the short term.”

“It is important that the Government continue to engage with the sector over the coming months, and accept that there will need to be a fiscal intervention for businesses which are at the sharpest end of this crisis.”

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