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Beige Book: Considerable Weakening In Ability To Pass Cost Increases On

FED
Dovish tinges with a considerable weakening in recent months in ability to pass cost increases on to consumers, contracts expecting that inflation would hold steady at at slow pace moving forward and upside risks mostly confined to manufacturers.
  • "Price increases were modest, on average, running at about the same pace as in the last report. Disruptions in the Red Sea and the collapse of Baltimore’s Key Bridge caused some shipping delays but so far did not lead to widespread price increases.
  • Movements in raw materials prices were mixed, but six Districts noted moderate increases in energy prices. Contacts in several Districts reported sharp increases in insurance rates, for both businesses and homeowners.
  • Another frequent comment was that firms’ ability to pass cost increases on to consumers had weakened considerably in recent months, resulting in smaller profit margins.
  • Inflation also caused strain at nonprofit entities, resulting in service reductions in some cases.
  • On balance, contacts expected that inflation would hold steady at a slow pace moving forward. At the same time, contacts in a few Districts—mostly manufacturers—perceived upside risks to near-term inflation in both input prices and output prices."
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