Small Businesses Raise Prices to Keep Up With Inflation

A net of 61 percent of small businesses raised their prices at the start of 2022, according to the National Federation of Independent Business. The percentage is the highest it’s been since 1974. The increase coincides with a 7.5 percent rate of inflation reported in January 2022 by the Bureau of Labor Statistics. The overall rate of inflation is spurring price hikes for some small businesses. “If we did not raise our prices, we would have worked just as hard as the prior year and ma...