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July 19, 2022 Last Edit: May 8, 2025
Comment on National Survey About Inflation’s Effect on Small Business
- Over three-quarters (79%) of small employers reported that rising “fuel (gasoline, diesel, fuel oil, etc.)” prices are a substantial contributor to higher costs.
- Seventy-two percent of small employers reported “inventory, supplies, and materials” as being a substantial contributor to higher costs.
- Under a third (31%) of small employers reported “labor” being a substantial contributor to higher costs.
- Four percent of employers report “rent” being a substantial contributor.
- Eighty-six percent of small employers are increasing the prices of their goods or services. Of those increasing prices, 7% reported that the effort was absorbing all their total cost increases, 36% reported most, about half (47%) reported some, and 9% reported a little.
- Eighty-two percent of small employers absorb costs through lower business earnings to some degree. Nine percent reported this absorbing all their total cost increases, 28% most, 50% some, and 11% a little.

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