When they say the current inflation is transitory/temporary? Do they mean once the “supply chain” issue is brought under control that prices will go back to their pre-inflation rate? (As a side note when has the government ever resolved a crisis, especially one with its fingerprints all over it?). My experience has been that very few prices go back down once they’ve gone up.
In my line of work we go through thousands of feet of PVC pipe per month. PVC, in case you didn’t know, is an oil-based product. When the price of oil goes up so does the per foot price of our pipe. But once the price of oil drops our price for pipe remains the same.
Since inflation has taken hold I have been informed by my three largest suppliers that my prices are being increased. One informed me there will be a 10% across the board price increase effective November 1. Another raised its prices by 5% in June and has now sent out a memo that it will go up another 8% in November. The third announced it will have a “floating surcharge” on all future orders that will be a minimum of 6%, but reserves the right to raise it unannounced as their costs dictate.
This is very concerning because our product is considered a luxury, not a necessity. We survived the pure hell that Jimmy Carter unleashed, and I always thought if we could survive Jimmy Carter we coukd survive anybody. Joe Biden seems to be telling me to hold his beer.
In my line of work we go through thousands of feet of PVC pipe per month. PVC, in case you didn’t know, is an oil-based product. When the price of oil goes up so does the per foot price of our pipe. But once the price of oil drops our price for pipe remains the same.
Since inflation has taken hold I have been informed by my three largest suppliers that my prices are being increased. One informed me there will be a 10% across the board price increase effective November 1. Another raised its prices by 5% in June and has now sent out a memo that it will go up another 8% in November. The third announced it will have a “floating surcharge” on all future orders that will be a minimum of 6%, but reserves the right to raise it unannounced as their costs dictate.
This is very concerning because our product is considered a luxury, not a necessity. We survived the pure hell that Jimmy Carter unleashed, and I always thought if we could survive Jimmy Carter we coukd survive anybody. Joe Biden seems to be telling me to hold his beer.
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