INFLATION was yesterday suggested to have hit 3 per cent — a five-year high.
The Sep figure was up from 2.9 per cent in Aug and is the misfortune given Apr 2012.
It fuelled fears the Bank of England will lift seductiveness rates next month — but was good news for pensioners.
Their rises next Apr are calculated using September’s Consumer Prices Index.
It means state pensions will go up £5 to £164 a week.
But tiny firms were left reeling. Their business rates will boost formed on September’s RPI — the apart Retail Prices Index — which was 3.9 per cent. Last night Chancellor Philip Hammond was urged to solidify the levy in his Budget.
Federation of Small Businesses authority Mike Cherry said: “Firms opposite the country could be hit with thousands in rates check increases come April.
“After so much business rates chaos, this will be the last straw for many.”
Helen Dickinson, of the British Retail Consortium, warned of apocalyptic consequences for shops already “struggling to survive”.
The 3 per cent arise in title acceleration — blamed on the descending Pound making imports costlier — means cost rises continue to outstrip standard compensate increases, which are 2.1 per cent.
Ex-Bank of England guru Andrew Sentance warned it risks prolonging the stream “sluggish growth” in the economy.