Surging inflation is still weighing heavily on U.S. small businesses – some 40% of which are planning to increase prices by 10% or more to offset their rising expenses.
The results of a survey conducted by the National Federation of Independent Business also hint at the financial obstacles facing American households as businesses pass along the cost of inflation to consumers.
Four in 10 small business owners said they planned to raise prices by at least 10% as they content with the most severe inflation since 1981, according to the survey. Another 47% of small businesses said they would hike prices by between 4% and 9%.
Over the next three months, a whopping 68% of smaller firms said they plan to raise their average selling over the next three months, while 31% said they were checking prices weekly to account for market conditions.
Click here to read the rest of the article written by Thomas Barrabi over at New York Post
