While the index has risen, so has the concern for business owners of what inflation is doing to their businesses. Forty-nine percent of owners reported job openings they could not fill in the current period, down one point from June but historically very high. Unadjusted, 8% reported lower average selling prices and 65% reported higher average prices. Price hikes were the most frequent in wholesale (80% higher, 8% lower), manufacturing (73% higher, 7% lower), construction (73% higher, 4% lower), and retail (72% higher, 6% lower). For owners reporting higher profits, 42% credited sales volumes, 26% cited usual seasonal change, and 16% cited higher prices.

Source: CNN August 09, 2022 20:22 UTC