Already, exporters are feeling the pinch, as inflation drives up their costs (see chart).
Certainly some manufacturers are feeling the pinch although they are understandably reluctant to talk about it.
But we are in the deepest recession we've known - people really are feeling the pinch.
They are also feeling the pinch as swelling food and energy costs tighten budgets.
With new car sales down 25% compared to 2007, motorists are feeling the pinch.
Even Bank Vontobel, a private bank with a small investment-banking division, has been feeling the pinch.
Hedgers might be Kraft, which is feeling the pinch of rising prices, or Southwest Airlines or BP.
In the United States and other Western nations, more and more poor families are feeling the pinch.
McDaid acknowledges a "difficult current climate" but says all League of Ireland clubs are feeling the pinch.
Consumers are feeling the pinch, with brownouts in the East and utility rate hikes as high as 15%.
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Just like metro papers, many small town newspapers are feeling the pinch of the changing industry these days.
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Rural households are feeling the pinch too, with children pulled out of school to work on family land.
And even wealthy people who are not feeling the pinch may have become more cautious about spending ostentatiously.
Already Merck, Bristol-Myers Squibb and Schering-Plough are feeling the pinch as patent expirations loom over their aging arsenal.
On the downside Morgan Stanley was feeling the pinch from the Cyprus situation.
The thought at that time was that customers were feeling the pinch of higher taxes and higher gasoline prices.
Eating out is always the first victim of a recession and the Conran restaurants are already feeling the pinch.
It comes at a time when shops like HMV are feeling the pinch.
Suppliers, from cement and steel to heavy equipment makers, are feeling the pinch.
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From the big corporations to the funky little tea and sandwich shop east of downtown, businesses are feeling the pinch.
On the face of it, banks are feeling the pinch, charging each other high rates in the interbank lending market.
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It is the need to show that this government is acting to help struggling families that are feeling the pinch.
Not long ago I spoke to the artistic director of a well-regarded theater company somewhere in America that's feeling the pinch.
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More competition will also put less burden on the carriers who are increasingly feeling the pinch of smartphone subsidies on their margins.
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It is not just American public universities that are feeling the pinch.
As commodity prices rise globally, all Sri Lankans are feeling the pinch.
Small businesses are feeling the pinch (nay, crush) of slowing demand, and more are employing desperate measures to bring customers in the door.
Now that women are half of the workforce and two-thirds of moms are breadwinners or co-breadwinners, families are feeling the pinch more than ever before.
Blair Paterson is one public sector worker already feeling the pinch.
If even a small rise in taxes allowed a slightly smaller increase in interest rates, that would be welcome for a sector now feeling the pinch.
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