How Does Inflation Affect Businesses & Advice on Controlling Costs

After two years of lockdowns, supply chain issues, and other pandemic-related restrictions, businesses can finally start moving forward in the “new normal,” right? Wrong! Because while the worst of Covid seems behind us, there is now another threat to confront: the highest levels of inflation in 40 years. The costs of living are up as is the cost of borrowing. In this article, answer the question: How does inflation affect businesses? We also provide practical tips on cutting costs. Understanding the Basics Essentially, inflation occurs when prices go up. As a result — and this is the crucial thing to keep in mind...