Today we learned that July's survey of small business owners showed that inflation might have peaked. On the other hand, there was no peak in today's productivity and unit labor costs report for Q2:
(1) The small business owners survey found that 56% of them are raising prices, while 37.0% are planning to do so. Both are down from their peaks earlier this year. However, they remain quite elevated and still in record high territory (chart).
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