CFOs are heading into 2026 expecting persistent pricing pressure and economic uncertainty, according to the latest CFO Survey from Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta.
Tariffs remain the top concern among U.S. CFOs as trade policy continues to complicate pricing decisions and long-term planning. Although concern about tariffs eased slightly compared with the prior quarter, CFOs still ranked them above demand for products and services, labor quality and skills mismatch, monetary policy and even inflation. Overall, the responses suggest a cautious mindset, with finance leaders focused on managing risk amid a vastly uncertain economic backdrop.
Pricing pressure and growth expectations
CFOs continue to expect pricing pressure to carry into 2026. The median respondent anticipates prices for products and services will rise by 3.5% next year, signaling cost dynamics remain elevated. Rising costs are not a result of any individual issue, as CFOs appear to be factoring in a mix of tariffs, input and procurement costs and customer sensitivity when setting pricing plans.
John Graham, a finance professor at the Duke University Fuqua School of Business and the academic director of the survey, said the findings point to continued high price growth following earlier expectations that tariff-related pressure would extend into 2026. The data suggests CFOs are preparing for price increases as part of broader margin management strategies…