Small business sentiment dropped by most in 13 months in January as inflation, labor costs bite

• Small business owners' confidence level dropped in January, the National Federation of Independent Business said. 
• 20% of business owners cited inflation as their top concern, while 39% blamed labor issues.
• The reading marked the biggest decline in sentiment in 13 months. 

Small business sentiment logged the biggest drop in 13 months in January as business owners say inflation and high labor costs are creating headwinds.