32% of businesses plan to raise prices by at least 6% in the next 12 months, says CFIB. Read more.
found that 32 per cent of businesses are planning to raise their prices by at least six per cent in the next 12 months.
“Raw material shortages, skyrocketing parts, components, materials, labour, insurance, fuel/heating, and electricity costs — everything costs more,” a manufacturing business owner in Ontario said in the The top three factors causing small business owners to increase their prices were input costs and product availability , transportation and fuel prices and labour costs.
“This should sound the alarm for governments to take swift action and provide more cost relief,” CFIB president Dan Kelly said in the press release. “As small firms are struggling to keep up with staggering increases on almost every line of their budget, governments must avoid imposing additional costs that would put the livelihood of small businesses at risk.”Article content
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