Companies across the country are considering hiking prices to offset the surging costs of things like raw materials, energy and transportation.
The purchase price for a slew of products, including lumber and steel, has climbed in recent weeks in the face of supply-chain bottlenecks and pent-up consumer demand. The constraints, which have caused some shortages, are forcing financial officers to make a tough decision: Absorb the higher prices, or pass the extra costs along to consumers?
New data published by FactSet found that 18 of 26 S&P 500 firms in the consumer staples sector said they had already increased the prices of their products – or were willing to do so – in order to counter the recent inflation spike.
Take a closer look at consumer brands you may pay a little bit for this year:
Clorox is planning to increase prices for its Glad products in July – and more increases could come later this year, executives said in April.