BURNING ISSUES
INFLATION CASTS A SHADOW
Cost pressures are back with a bang – at the top of the corporate watch list
Inflation cut through the noise once again to top the list of business concerns in August, emerging as the foremost burning issue confronting corporates. It is cited by slightly over half (52%) of surveyed executives – that’s a sharp 15 percentage point increase from July (37%).
In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, high taxes ranks second with 36 percent of executives identifying it as a major concern. This represents a three percentage point increase from the previous month (33%).
Interest rates, which had dominated the rankings for several months, moves to third place with nearly a third of respondents (32%) expressing concern – up five percentage points from July’s 27%.
Meanwhile, brain drain ranks fourth at 24 percent while utility costs round up the top five, cited by 23 percent of executives.
On a national scale, the cost of living, the economy and climate change retain their first, second and third positions respectively for the second consecutive month.
The cost of living remains the country’s most pressing issue with seven in 10 (70%) respondents identifying it as a challenge – unchanged from July. And the economy ranks second with 69 percent of poll participants saying it is on their list of concerns, reflecting a three percentage point increase from two-thirds (66%) in the month prior.
And climate change occupies third place with three in 10 (30%) respondents saying so. Global conflicts follow in fourth place at 21 percent while brain drain makes the top five, cited by 15 percent of respondents.
– LMD
