Oil at 100 dollars and the ECB raises rates: the only defence is your price list
Two news items tucked away on the inside pages of the Corriere that hit everyone's wallet: dearer money, rising fuel prices, expensive bills this winter. As entrepreneurs, the only thing that protects us is the price list.
Oil above 100 dollars, gas at its highest since 2022, the ECB raises rates again.
I'm telling you this from a hotel room in Cannes, where tomorrow we are at the boat show with one of our clients. This morning in the Corriere there were two news items tucked away on the inside pages, but they hit all our wallets.
The ECB is raising rates by another 0.25% to curb inflation that has risen to 3.3%.
With the war in the Middle East, oil has hit 100 dollars a barrel and gas is at its highest since 2022.
What does it mean? Borrowed money, for entrepreneurs and families alike, will cost more (anyone on a variable rate will notice in the coming months), petrol and diesel will rise further, and this winter energy bills will be expensive, for companies and for families.
The only thing that protects us is being entrepreneurs: working on the price list, raising prices with judgement to absorb these costs, and attracting a tier of customers who recognise value, respect us and pay what is due.
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