Key stat: 77.5% of US CEOs anticipate inflation will negatively affect their business forecasts, making it the leading concern ahead of tariffs (70.6%) and US-China relations (68.6%), according to a November survey from Stagwell, The Wall Street Journal, and the National Research Group.

Beyond the chart:

• Inflation is already splitting the consumer economy. The top 20% of US income earners now account for 59% of spending, according to a Moody's Analytics analysis of Federal Reserve data, forcing companies across industries to retool strategies around higher-income customers.
• Meanwhile, consumer credit is showing signs of strain. Outstanding credit card and revolving debt jumped $13.8 billion in December, the biggest monthly increase in over two years, according to the Federal Reserve, suggesting households are stretching further to maintain spending.

Use this chart: Drop this in your next strategy review to benchmark CEO sentiment against your own risk assumptions. Use the 77.5% inflation concern to frame budget conversations around pricing resilience. Show this to leadership teams evaluating tariff exposure and trade disruption planning.

Related reports:

• 5 Inflection Points That Will Define US Retail (EMARKETER subscription required)
• Live: Q4 2025 Retail & Ecommerce Earnings Tracker (EMARKETER subscription required)

Methodology: Data is from the December 2025 Stagwell and The Wall Street Journal report titled "Priorities and Perspectives of American CEOs" conducted by National Research Group (NRG). 100 US CEOs leading companies with at least 10,000 employees were surveyed during October 21-November 10, 2025.

We prepared this article with the assistance of generative AI tools and stand behind its accuracy, quality, and originality.