Nearly 1 in 3 Businesses Plan to Raise Prices Within 6 Months Amid Inflation Concerns

Businesses Anticipate Price Increases

Nearly 1 in 3 businesses plan to increase prices within the next six months, as reported by LendingTree. This expectation is driven by rising costs and inflation, with significant variances across different states.

Survey Findings

• More than 30% of surveyed businesses predict price hikes.
• Only 5% anticipate a decrease in their prices.
• 65% expect prices to hold steady.

These findings come amidst uncertainty surrounding President Trump's tariff policies, which are contributing to businesses' concerns over profit margins.

State-Level Insights

States like Rhode Island, New Hampshire, and Montana show the highest percentage of businesses expecting price increases—over 36% in each state reported potential adjustments.

• Conversely, states with the lowest expectations for price increases include West Virginia, Mississippi, and Arkansas.
• Roughly 20% of businesses in these areas foresee price hikes coming.

Pressure on Business Operations

Over half of surveyed companies expect rising operational costs, jeopardizing their competitiveness unless they adjust pricing strategies. Staffing reductions may have to occur as a counterbalance to these financial pressures, according to analysts.

Conclusion

The survey conducted from June 2-15 provides a snapshot of a challenging economic landscape, with businesses actively responding to pressures from inflation and tariffs.