Shocking report .. 95% of companies are under pressure from inflation

A recent poll revealed that most CEOs believe inflation will remain high until at least mid-2023, when hyperinflation is CEO’s top concern.

According to the survey, around 55% of global CEOs fear that price pressures will remain elevated until mid-2023 or beyond, according to a poll released by the Conference Board and reported by CNN.

The survey found that inflation is now seen by executives as the second external threat to businesses, compared to the No. 22 a year ago, as the major concern remains the interruption of the coronavirus and its variants.

And last Wednesday, the Bureau of US Labor Statistics said consumer prices rose 7% during December, from the previous year, the largest jump since June 1982.

And 95% of industry CEOs surveyed say they face upward pressure on commodity prices prime, wages and other factors of production. They cited supply chain disruptions, labor shortages and energy price turmoil.

According to official data, producer prices, which suppliers impose on companies, increased by 9.7% in 2021, according to the survey. This is the fastest pace since the US government began following it until 2010. However, between November and December, producer prices only increased by 0.2%, marking the slowest monthly increase since November. of 2020.

The Conference Board survey indicated that fewer than 40% of CEOs indicated their companies were “well prepared” for an “inflation crisis”.

The survey results revealed that business leaders intend to address inflation by cutting costs, in particularly by passing it on to consumers in the form of higher prices.

The survey found that there is “currently little indication” that CEOs are willing to “absorb price increases” by allowing them to consume profit margins.

The survey of over 900 CEOs, first published by the Wall Street Journal, was conducted between October and November last year.

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