​Small business say Bidenflation leaves them no option but to raise prices, a recent survey by the National Federation of Independent Businesses (NFIB) finds.

Small business optimism hit record lows this month. Amidst 40-year high inflation and worries about even more inflation pain ahead, business owners, economists, and American families are growing increasingly worried that the U.S. economy is heading toward a recession.

Key Findings:

• 60 percent of small business owners report inflation is having a substantial impact on business.
• Small business owners report that raising prices is the main action they’re taking to respond to inflation.
• In fact, 86 percent of small business owners are passing higher costs onto consumers by increasing the price of their goods or services.
• And with inflation still going up, 68 percent of small business owners plan to raise prices even higher within the next three months.

CLICK HERE to read the full survey.

Key Background:

• American families are falling behind: The latest CPI report showed that prices are going up three times fasterthan paychecks. In other words the average American family has lost about $5,700 in purchasing power from inflation.
• Main Street businesses are worried about survival: Polls find that more than 60 percent of American job creators are worried that Bidenflation will close down their business.
• Democrats’ spending fueled inflation: Analysis by the San Francisco Fed found that President Biden’s trillions in stimulus spending fueled the inflation fire.

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CLICK HERE to watch.

• Experts and Americans are worried about a recession: Optimism among American families and small businesses has plummeted, and over half of Americans believe the economy is already in a recession or depression.

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