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Texas businesses set to raise prices despite economic growth

Dallas (1080 KRLD) - The Texas economy has started growing again, but businesses are having trouble finding supplies and workers.

The Dallas Federal Reserve branch says a survey of businesses across the state shows 88% are planning to increase prices this year or next because they have to pay workers more and pay more for supplies.


Dallas fed senior business economist Laila Assanie said the number of jobs in Texas has grown 4% this year, but those wage and price pressures mean the number of new jobs will level off the rest of the year. Assanie said home prices and rent are increasing, too.

Assanie also said the median home price in most parts of the state has reached a record high.

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