Does inflation compels you to increase the prices of your products
- Thread starter Stardom22
- Start date
With the price increase in raw materials and other supplies, business has no option but to increase the selling price of their products in order to survive or remain profitable.
Due to inflation mostly products prices are already increased so it remain not only difficult but it becomes impossible to sell products on previous price. I know it's very hard but there were no way so I increased prices of some basic items too.
But inflation always bring hike in price so people would be following the economy at that time to increase prices of things
When inflation occurs, the prices of all goods will rise, especially transportation costs so that the cost of goods increases. Even though the goods we sell are old stock, we must adjust the price of inflation so that we can buy back inventory.
Inflation is normally characterized by increase in the price of goods and it wouldn't be the fault of anyone.
It is a garbage in garbage out thing. When inflation occurs, everything rises including the cost of production of goods and services. The business has to respond by increasing the prices.
