Inflation dominates Americans’ concerns today. A Pew Research Center survey of U.S. adults, conducted April 25-May 1, determined that 70% of Americans consider inflation as a very big problem. And, we should be concerned. The short-term inflation we have seen has rippled throughout the economy quickly, leading to higher prices for goods and services. Whether this is a longer-term inflationary period will be determined by larger factors than individual businesses can control.
How we respond to our customers in a time of anxiety over rising prices and challenging availability of products or services is something we can control. In the coming months it will define how our businesses survive.