Inflation fears among small business owners have risen to their highest level in four decades as owners remain broadly pessimistic about future economic conditions, according to the latest monthly poll from the National Federation of Independent Business (NFIB). The NFIB’s small business economic survey (pdf), released Jan. 11, shows that 22 percent of small business owners reported that inflation was their single most important business problem, the highest reading since 1981. A year ago, a mere one percent of owners said inflation was their chief worry. “Inflation is at the highest level since the 1980s and is having an overwhelming impact on owners’ ability to manage their businesses,” NFIB Chief Economist Bill Dunkelberg said in a statement. The percentage of owners raising average selling prices edged down two points to a net 57 percent in December, an improvement from November but a historically elevated reading, according to NFIB. Price hikes were the …