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Fewer Firms Increased Prices In Jan, But More Plan To Increase Ahead - NFIB

US DATA
  • Within the myriad of figures in the NFIB small business barometer in January, the net share of owners raising average selling prices fell 3pts to 22% for the lowest since Jan’21.
  • It was helped by 15% reporting lower selling prices, the highest since Aug’20.
  • However, a net 33% planned price hikes in the next three months vs 32% in Dec, unchanged from the 33% averaged through 4Q23 after pushing higher since bottoming out at 21% in Apr’23.
  • Having averaged 22% through 2017-19, this >30% level continues to imply difficulty in keeping inflation at levels consistent with the 2% PCE target.

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