Inflation Hits Main Street

Today, the Bureau of Labor Statistics reported that inflation rose 1.2 percent from February to March and 8.5 percent on a year-over-year basis. Leading the way were energy prices, up 32 percent year-over-year. Both fuel oil (up 70.1 percent) and gas (up 48 percent) prices increased dramatically. Food prices also rose sharply, up 1.5 percent over February and 10 percent year-over-year.

Inflationary pressures have reached Main Street retailers across the country and have them wondering how to engage price-cautious customers while keeping goods at reasonable prices. We spoke with four small retailers to learn more about how inflation is affecting their businesses and what Congress can do to help bring inflation under control. Read more at National Retail Federation.

One Reply to “Inflation Hits Main Street”

  1. If you ask vendors, they’ll tell you about freight costs as the primary culprit. $3500 for a container in March of last year, ballooning to $35,000 and more by fall. It has backed off, but still 5 times last year. Nobody mentions it, nobody DOES anything about the gouging that forced price increases. Inflation in our industry is tied to that. Fix THAT, you pretty much eliminate the problem. Lumping all factors into one big “inflation” category is specious at best. What I see is planned profiteering, with no oversight.

    Gas prices here were $3.29 last year, today’s price $3.89. Considering profits of the oil companies, gouging here as well, with no oversight.

    I don’t buy it, any it. It’s corporatism at work.

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