The U.S. is reportedly experiencing a “surge” in inflation. But what does that mean for your business?
Media headlines point to rising U.S. inflation rates that impact businesses and consumers alike. No one wants to hear their dollar is losing value – but really, inflation indicates there is more money available to consumers, an increased product demand, and climbing wage prices.
A small inflation rate increase is good – it signals the economy is progressing. The Federal Reserve aims to level the rate between extreme inflation and deflation. This equates to average inflation rates around 2% over time.