On NJ Spotlight News this week, NJBIA President and CEO Michele Siekerka discussed how rising inflation is cramping the means of small businesses throughout the state.
The US Bureau of Labor released new data on Tuesday noting an 8.5% jump in inflation over the past 12 months, the largest annual increase in the Consumer Price Index in 41 years.
“It was challenging the last few years for these businesses and now tack on these supply chain issues, inflation, fuel costs, energy…this is going to be a challenge for us,” Siekerka told NJ Spotlight News Senior Correspondent Brenda Flanagan.
Denise Christopher, owner of NJBIA-member Attention to Detail Cleaning Services, said her business is feeling the pinch in terms of increased prices in fuel costs, equipment and materials.
“It’s hard…it’s very hard,” Christopher told Flanagan. “We provide a service that people rely on us for, and we’re going to have to increase our rates.”
To see the full NJ Spotlight report, click here.