Many Businesses Planning To Raise Prices In New York State

Many New York businesses say they will be forced to raise prices by the end of 2025. Experts warn shoppers to brace for rising costs soon.

Nearly a third of New York businesses are likely to increase prices by the end of 2025.

Over 30 Percent Of Businesses Say They Will Be Raising Prices Soon

This is according to a new report from LendingTree.

A new report by LendingTree found that 30.9 percent of businesses across in the United States expect to charge higher prices within the next six months. Nearly 30 percent of New York businesses also expect to raise prices over the next six months.

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"Tariffs are likely playing a significant role in these concerns, but so is the overall sense of uncertainty that remains in the American economy," LendingTree chief consumer finance analyst Matt Schulz stated. "This report makes it clear many businesses see continued rising prices ahead.”

About 4 percent of businesses expect to lower prices, while nearly 65 percent expect prices to remain the same.

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Over Half Of Businesses Expect To Pay More

The study also found that nearly 51 percent of businesses expect the prices they pay for goods and services will increase by 2026.

"This stat highlights how inflationary pressures can build: As businesses plan to raise prices, many may just be accounting for increased costs from their own suppliers," LendingTree states.

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