U.S. Firms to Raise Prices Amid High Costs, Survey Says

More U.S. companies plan to raise boost prices and limit hiring as a continuing surge in raw-material costs crimps profits, according to a new business survey, Bloomberg reported Monday.
 
Almost four times as many businesses plan to charge their customers more next quarter than expect to reduce prices, according to the survey by the National Association for Business Economics, Bloomberg reported.

A net 9% of employers said they would increase payrolls over the next six months, the fewest in five years, the survey said.

The report raises concern that rising expenses will contribute to a further pickup in inflation and a weakening in the labor market, Bloomberg said.

A net 71% of firms said costs rose last quarter, up from 65% in the previous three months and the most since records began in 1994, the survey said.