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Most business owners say prices will continue to rise

According to PNC survey

  • Scott LaMar
In this Sept. 24, 2013 file photo, cut stacks of $100 bills make their way down the line at the Bureau of Engraving and Printing Western Currency Facility in Fort Worth, Texas. According to a study released on Tuesday, April 3, 2018, middle-aged Americans who experienced a sudden, large economic blow were more likely to die during the following years than those who didn’t. The heightened danger of death after a devastating loss, which researchers called a “wealth shock,” crossed socio-economic lines, affecting people no matter how much money they had to start.

 (AP Photo/LM Otero)

In this Sept. 24, 2013 file photo, cut stacks of $100 bills make their way down the line at the Bureau of Engraving and Printing Western Currency Facility in Fort Worth, Texas. According to a study released on Tuesday, April 3, 2018, middle-aged Americans who experienced a sudden, large economic blow were more likely to die during the following years than those who didn’t. The heightened danger of death after a devastating loss, which researchers called a “wealth shock,” crossed socio-economic lines, affecting people no matter how much money they had to start.

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Airdate: Monday, March 14, 2022

Polls show that most Americans have a negative perception of the nation’s economy right now.

Their attitudes can be traced to the highest rates of inflation in 40 years. The daily reminder of the price of gas, no doubt, influences that as well.

Even though the U.S. Federal Reserve will raise interest rates this year that can have an impact on inflation, more than half of businesses say they expect to increase prices for their products or services with more than a third of them saying their prices will go up by 5% or more. That’s according to a survey of businesses by PNC Bank.

That survey also shows that one-third of businesses say supply-chain issues have worsened in the last six months, but most expect improvements in the next six months.

Forty-three percent have lost staff since the start of the pandemic with half citing illness or deaths as the reason.

The good news is the number of people being hired is way up and most workers are making more money.

PNC Chief Economist Gus Faucher appears on Monday’s Smart Talk to break the numbers down.

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