April 30, 2024 13:49 GMT
MNI Chicago Survey™: Over 40% Feel More Able to Pass On Input Costs
US DATA
In April, the Chicago SurveyTM asked firms “Over the past three months, how has your ability to pass on input costs changed?[1]”
- 42% of respondents reported either a ‘somewhat greater ability’ or a ‘Greater ability’ to pass on costs.
- 36% reported “No change” in their ability to pass on costs with comments stating price increases already happened last year.
- Finally, 23% reported either ‘Somewhat less able to’ or ‘Less able to’ pass on input costs with comments noting that there have been increases in purchasers’ price sensitivity.
[1] Input costs are the expenses incurred in order to create a product e.g. transportation cost of raw materials, higher commodity prices, higher labor costs etc
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