The Atlanta Fed Business Inflation Expectations survey showed year-ahead inflation expectations unchanged at 2.3% in August 2025, indicating that firms’ price outlook remains anchored.

• Sales levels and profit margins “compared to normal” improved, suggesting some recovery in current business conditions.

• Year-over-year unit cost growth held steady at 2.3%, showing no pick-up in cost pressures.

• Firms reported a median 4.0% realized price increase over the past 12 months (up from May), but expect a smaller 3.0% price increase over the next 12 months.

• A special question highlighted that firms continue to rely on a mix of domestic and imported inputs, while reported demand and revenue levels were generally higher than a year earlier.