Surviving During Uncertain Times
NFIB Chief Economist William Dunkelberg wrote in Forbes (7/28, Dunkelberg) that “with supply chains not working smoothly” due to the pandemic, “imbalances between the supply of goods and services, and the demand for those products are now center stage, creating an environment of rising costs and, subsequently, higher prices as those costs are passed on to consumers. Owners are reporting the highest frequency of price hikes for their products and services since 1971.” Dunkelberg said that “almost two-thirds” of those impacted by these disruptions “anticipate having to manage through for more than six months, extending into 2022.”