Simplifying Labeling Blog

In conversations, on news shows, and in the headlines, inflation and recession have been constant buzz words of late, triggering discomfort in business and personal settings. This comes as no surprise: the unknown can provoke a lot of anxiety. With that in mind, this Simplifying Labeling Blog post aims to offer comfort and action ideas for you and your business.

The Realities of Inflation

Everyone buying and selling goods and services has been confronted by the current inflationary trend. The most recent Bureau of Labor Statistics report, as of July 2022, shows that inflation, measured by the consumer price index, is up 8.5% in the past year. This is down from a June 2022 high of 9.1%; rapidly falling gas prices appear to be starting to blunt the latest surge. Although it does raise the value of such tangible assets as land, properties, and stocked commodities, inflation causes a reduction in purchasing power that has impacted every industry. 

Everyone who works in or buys from the printing industry knows that, like a variety of other businesses, printing is undergoing numerous and seismic changes. From rising demand for mass customization to the growth of digital printing to increased competition from other channels there’s a mix of positives and negatives in the industry. All the while, something unforeseen just a couple of years ago may influence the fortunes of the printing industry, and have a real impact on businesses: Tariffs. 

This “T-word” has been a cause for concern for businesses and consumers alike, and we believe it is valuable to share more information about tariffs, by defining current events and forecasting what could happen in the near future. While SixB Labels is based in the Southwest our clients are national and we operate accordingly.

Fortunately for our clients and their customers, sourcing at SixB Labels is done in such a way that the potential impact of most recent tariffs is negated. The tariffs on these imported goods do not affect our company, because we don’t use raw materials from China, so we do not look to see price increases in our supplies. All the while, in this blog we look at how generally trade tariffs impact printing.