This article was originally featured in MoneyLion. Written by Kerra Bolton.
For small business owners, inflation shows up on both sides of the ledger: what it costs to operate and what customers can afford to spend. September’s numbers moved the wrong way. Consumer prices rose 3.7% year over year, up from 3.4% in August, according to Bureau of Labor Statistics figures cited by MoneyLion.
MoneyLion examined how that report could shape the upcoming midterm elections, and closed its analysis with USHBC President and CEO Javier Palomarez. He said the latest figures add pressure on candidates to address affordability: “September’s acceleration reinforces the concern that relief isn’t coming quickly enough.”
Palomarez said candidates now need to explain what they will actually do to make life more affordable. In his view, voters want more than a plan they can follow. They want results someone can be held accountable for.
The full article brings in economists and recent polling on how rising prices could affect voter priorities and turnout.