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MNI BRIEF: Record 72% of Small US Biz Owners Raise Prices-NFIB

(MNI) Washington

Record number of small business owners across the U.S. raise prices in March, all as sentiment plummets.

USDataPolicyData BriefData StoriesBriefNorth AmericaStoryRegion

The number of U.S. small business owners raising average selling prices in March increased four percentage points to a seasonally adjusted net 72%, the highest reading in the National Federation of Independent Business survey’s history.

Price hikes were the most frequent in wholesale (84% higher, 0% lower), construction (83% higher, 3% lower), agriculture (78% higher, 2% lower), and retail sales (77% higher, 2% lower), the survey showed. A net 50% of owners plan future price hikes, up four points from February.

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The number of U.S. small business owners raising average selling prices in March increased four percentage points to a seasonally adjusted net 72%, the highest reading in the National Federation of Independent Business survey’s history.

Price hikes were the most frequent in wholesale (84% higher, 0% lower), construction (83% higher, 3% lower), agriculture (78% higher, 2% lower), and retail sales (77% higher, 2% lower), the survey showed. A net 50% of owners plan future price hikes, up four points from February.

Keep reading...Show less