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Most CFOs think higher prices will last through 2022, survey shows
How inflation is taking a toll on Main Street
Natixis chief economist Joe LaVorgna explains the impact of inflation on small businesses on ‘Making Money.’
A majority of U.S. businesses are hiking prices at a rapid clip as they seek to offset the pain of soaring inflation and a lack of available workers, according to a survey of American CFOs published on Thursday.
The CFO Survey, a collaboration of Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta, shows that finance chiefs are increasingly worried about labor availability, inflationary pressures and supply chain disruptions.
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Nearly 90% of firms reported larger-than-normal costs increases — a sharp rise from just six months ago, when about 80% of businesses reported increasing the price of some goods.
Fewer than 20% of firms expect cost increases to abate within the next six months, and most firms anticipate the cost increases will last at least another 10 months, if not longer.