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Inflation continues to skyrocket, and from May 2021 to May 2022, the Consumer Price Index (CPI) rose 8.6%. That’s the most significant increase the United States has experienced since 1981. But it’s not just the U.S. dealing with rising inflation — 60% of advanced economies are also dealing with it.
For many small business owners, raising their prices is the natural reaction to inflation. And while this strategy may be necessary in some cases, it can also cause you to lose customers, especially if you do it too quickly. Let’s look at six ways to protect your business from inflation
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