In a recent Bloomberg article, experts say that prices will continue to rise in the coming months as supply chains remain in disarray. Companies are also facing higher costs for packaging, shipping, raw materials, energy, and additional fees from suppliers.
Not surprisingly, companies plan to put those extra costs on consumers instead of taking the hit to their profitability. Unfortunately, it's going to get worse before it gets better. The current hope is that things will start to die down again by the end of 2022.
Significant companies are having to spend billions more in expenses this year on higher commodity and freight costs. Some companies are expecting to have to raise their prices by at least 9% to pay their suppliers. Inflation in the U.S. has risen rapidly this year due to the supply chain issues, pushing the rate above 4%, the strongest since 2008.