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Consumer Price Index: Small Businesses Say Inflation is still a Top Problem

The Consumer Price Index released by the Bureau of Labor Statistics showed inflation rose 0.6% in August, higher than economist’s expectations. Over the last twelve months, consumer inflation rose to 3.7%.


This continues to tell the same story as the August Freedom Economy Index - that small business owners continue to struggle with inflations ongoing impact. In fact, 91.7% of respondents "strongly agree" that inflation remains a significant problem, and government figures do not accurately reflect its ongoing impact.

“The bottom line is that inflation remains a challenge for small business owners,” Andrew Crapuchettes, RedBalloon CEO, said. “The employers that make up the Freedom Economy say that inflation is one of the top three business challenges that they are facing today.”

Another staggering 70.6% of the surveyed small business owners listed inflation as a major ongoing challenge to their businesses.

As inflation continues to rise these core small businesses know that they have to stay alert and resourceful throughout upcoming years. They know they will need to continue to foster a sense of independence and self-reliance that continues to be the backbone of the economy at large.


Methodology:

The FEI team polled a universe of over 50,000 member companies of PublicSq. and customer companies of RedBalloon.work. The survey took place from August 24-28, with 928 respondents representing a cross-section of these businesses, with a 3.0% margin of error at the 95.0% confidence level.


For all of the findings, you can download the full report here.

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