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SAN ANTONIO (KTSA News) — Close to 80% of San Antonio businesses are reporting higher costs for goods and services, which ranks the city 15th in the nation among metro areas seeing the highest price increases.
The report from Lending Tree also shows prices increasing all over the state with 78.3% of businesses in Texas reporting cost increases for goods and services. The numbers show just over 23% of Texas small businesses are trying to find different suppliers to find better pricing.
“The longer inflation lingers, the more impact it stands to have on businesses,” says Matt Schulz, chief credit analyst with LendingTree. “It may force businesses to adjust their pricing, find a new line of credit, rethink their hiring plans, postpone possible expansion and reconsider other big decisions. Running a business is never easy, but it’s even more challenging in uncertain economic times like these.”
The report includes numbers taken in April, and it finds that 20 of the 50 largest U.S. metropolitan areas had a higher percentage of businesses reporting price increases than the national average. Milwaukee topped the list, with 86.7% of businesses reporting moderate to large price increases in April. Charlotte, N.C., was close behind at 85.7%.
You can see full details on the report by clicking here.
Below is a list of the top 20 markets seeing the greatest price increases sustained by small businesses.