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Inflation falls to three-year low

Inflation fell to its lowest level for nearly three years last month, but energy price rises are still expected to put household finances under pressure.

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Future rate rise warning despite drop in inflation

This RPI announcement reveals the scale of the potential damage to our high streets that will follow if the Government follows previous practice and translates it directly into April's rate increase.

The retail industry is the UKs biggest private sector employer, providing crucial first jobs to a million 16-24 -year-olds. Expecting retailers to bear a huge rates hike for the third year running can only lead to fewer chances of work, less investment and more troubled high streets.

The Government must recognise that retail has already contributed its fair share to the Exchequer and freeze business rates in 2013. It also needs to reform the mechanism for setting future increases so that it is fairer and less volatile.

– Stephen Robertson, British Retail Consortium

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