Wall Street thinks inflation peaked. Main Street expects more pain

Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia.

Elijah Nouvelage | AFP | Getty Images

More players in the stock market and among the ranks of professional economists have come around to the view that inflation has peaked or already is in decline, but small business owners on Main Street don’t expect a reprieve from high prices any time soon, according to a new CNBC poll.

An overwhelming majority (78%) of America’s entrepreneurs say they expect inflation to continue to rise, according to the quarterly CNBC|SurveyMonkey Small Business Survey. That is effectively unchanged from last quarter when 77% said they expected inflation to continue to rise.

Main Street’s belief that inflation has yet to peak comes amid recent conflicting economic data points and consumer sentiment.

Wholesale prices reported on Friday rose more than expected in November as food prices continued to surge. However, the producer…

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