How many of you know what the rate of inflation was for the last year. Would it surprise you to find out it was 4.5% last year? (2.5% is typical.) So that means if you were charging or basing your labor rates on $60 per hour last January, you would need to charge $63.00 per hour this year - just to make the same as last year. If you were charging $35 per cut, you'd need to charge $36.50 per cut this year just to stay the same. This isn't a raise. This is an even. Just to stay even with what you were making a year ago, these are the prices you'd need to charge. Now, if you wanted to actually make MORE money this year, you'd have to raise prices more like 7-10%. That would be a raise. If you're not going to change prices from what you charged this time last year, then you are effectively giving up almost 5% of your income. And a much larger percent of your profit. If you made $20 in profit for every $100 you took in income last year, then this year you'll be making only $15.00 per every $100.00 in income. For those of you in Jersey, that means 25% less net profit!!! ;-) Just something to think about. I know everyone's concerned about the economy this year and you're probably considering NOT raising prices because the economy isn't doing so hot. But you may want to reconsider after looking at these stats.