The latest Business Inflation Expectations Survey (BIES) has said that while around 46% of the firms in August 2019 reported increase in costs has been more than 3%, down from 49% in July 2019 and 55% in June 2019, and the proportion of firms perceiving significant cost increase (more than 6%) declined sharply to 23% from 29% reported in July 2019, the situation has worsened insofar as sales and profits are concerned.