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As the waste management and recycling industry grows rapidly in response to environmental concerns, RMP look at the significant risks to local authorities, their staff and or contractors, and members of the public.
Claims Cost Inflation
Cost Inflation?
Cost inflation is the increase in the price of products or services caused primarily because raw materials and wages cost more.
The UK inflation rate has been on quite a journey over the last two and a half years. It has held steady in June 2024, remaining at the Bank of England’s target rate of 2%.
The slower pace of food price rises has helped to push inflation back down, along with soft drinks, restaurants and hotels. This effect was partially offset by petrol prices and rental costs.
Overall, the cost of living is not falling but prices are rising less quickly than they were previously.
Inflation is effectively the loss of purchasing power over time, so a pound coin (£) won’t go as far today as it did yesterday.
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How can we help you?
For more advice on how we can help lower the cost of your risk, please email contact@rmpartners.co.uk
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