U.S. Companies Bump Up Prices on Supply Squeeze, Demand Boom
Payne Lubbers, Bloomberg
U.S. companies face soaring bills for all kinds of materials that they need to do business -- and surging demand is helping them pass on those higher costs to their customers.
In early-season earnings calls, executives from burrito chain Chipotle Mexican Grill Inc. to appliance giant Whirlpool Corp. and diaper maker Procter & Gamble Co. have outlined price hikes, largely in response to rising materials costs.
Shortages, bottlenecks and a year-long bull market in commodities have been pushing inflation rates higher across much of the world. In the U.S., which pumped more pandemic stimulus into its economy than most countries and has managed a faster vaccine rollout, those supply issues may be amplified by a boom in demand.