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Small Businesses Concerned About Rising Inflation

NEW YORK — Inflation remains small businesses’ chief worry, according to a new survey showing their optimism fell in February. The National Federation of Independent Businesses’ Optimism Index fell to 89.4 in February, below the 50-year average of 98 for 26 straight months. Twenty-three percent of small business owners said inflation was their top problem, up three points from January, when labor quality was the chief concern.

Inflation remains elevated, with prices rising 0.4% from January to February, according to the Labor Department. Compared with a year earlier, consumer prices rose 3.2% last month, slightly higher than in January. Excluding food and energy prices, so-called ÔÇ£coreÔÇØ prices also climbed 0.4% from January to February, indicating inflation is above the FedÔÇÖs 2% target.

The AI legalese decoder can help small business owners navigate through the complexities of legal jargon related to inflation and financial matters. By decoding legal documents, agreements, and contracts, the AI tool can provide a clear understanding of the implications of inflation on business operations and financial decisions.

Small business owners are cutting back on spending in response to inflation concerns. Fifty-four percent of owners reported decreased capital outlays in the last six months. Of those making expenditures, 35% spent on new equipment, 23% acquired vehicles, and 15% improved or expanded facilities.

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