Short term negative inflation means positive news for the leisure industry

Short term negative inflation means positive news...

Will Hawkley, UK head of Leisure at KPMG comments on the announcement from the Office of National Statistics.

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Will Hawkley, UK head of Leisure at KPMG comments on the announcement from the Office of National Statistics that the UK has slipped in to negative inflation.

Will said: “In terms of the leisure sector, negative inflation (in this instance) is not as pessimistic as it sounds.  With the Bank of England predicting levels to rebound back in to positive territory within 12 months, this short period of deflation could prove a welcome stimulus for the UK economy.”

“With increases to the minimum wage adding cost pressure on the sector, yesterday’s inflation figures are a welcome shot in the arm and will provide consumers with increased confidence and disposable income.  It is now up to the leisure sector to ensure they capture their fair share of any increase in consumer spending.”

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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