The Federation of Small Businesses has today called for immediate support from the Government for its members after the latest inflation figures were released.

The Consumer Prices Index (CPI) remained above the Government's two per cent target at 2.6 per cent last month, though it was down from the 2.7 per cent rate in May, while the Retail Prices Index (RPI) stands at 3.5 per cent.

Responding to the figures, FSB national chairman Mike Cherry said: "All over the country, firms are paying themselves less and further increasing prices in an attempt to manage inflationary pressure.

"Small firms are still absorbing the shock of April's delayed business rates revaluation.

"To add insult to injury, we had news last week of yet another delay to delivery of the hardship fund promised months ago to those worst affected.

"Confirmation in recent days that rates bills will rise in line with CPI rather than RPI from 2020 will go some way to supporting small firms that are struggling against sharp hikes in the future.

"Given that operating costs are now at their highest in four years, and against a backdrop of unprecedented political and economic uncertainty, help is needed in the here and now.

"It's clear that this switch must be brought forward to 2018."

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