Obviously there is a lot of talk about inflation. Is it just talk? Or is it real and inevitable?
The pandemic ravaged the economy. The government has poured trillions of dollars into the economy in the form of stimulus checks, increased unemployment benefits and a myriad of other economic stimuli.
These have certainly helped, but in their wake will there be an inflationary cycle? Depending on what you read and what you find reliable, there are differing viewpoints.
The prudent course to take is to chart your own Inflation Gauge based upon products and services you regularly use. You should include food, gasoline, postage, local fees and taxes. Federal tax has already increased on cell phones and land lines. These are “hidden” taxes and there are and will be many others.
While it may be difficult in these current economic times, it may be necessary to raise your prices. Don’t let everyday cost increases sneak up on you and eat into profits.
Monitor your situation closely by establishing your Inflation Gauge.
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The Bane-Clene® Team.
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Friday, June 11, 2021
Posted by Bane-Clene® Corp. at 12:00 AM