A new survey by Goldman Sachs paints a picture of U.S. small businesses struggling under the weight of surging prices, hiring woes, supply chain dislocations, and an Omicron-driven fourth wave of infections. The survey, released on Jan. 24 and based on a poll of 1,466 small businesses, shows that 76 percent of respondents said inflation has had a negative impact on their business’ financial health over the past six months. While the survey didn’t differentiate consumer price inflation from producer price inflation, both measures have in recent months hit multi-decade highs. The Consumer Price Index (CPI), a measure of inflation from the perspective of end consumers of goods and services, jumped by 7 percent in the 12 months through December, the fastest pace since 1982. The Producer Price Index (PPI), which reflects input costs borne by businesses and is widely seen as a leading indicator of future consumer price inflation, …
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