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MNI INTERVIEW: Firms See Year-End Inflation In 6%-7% Range-ISM

(MNI) Washington
WASHINGTON (MNI)

ISM services chief expects demand to continue to moderate over time.

U.S. service sector prices could take longer-than-expected to ease as supply constraints make inflation pressures the industry's top challenge, Institute for Supply Management services chair Anthony Nieves told MNI Friday, adding he expects continued growth through the year.

"Based on recent forecasts firms see price growth in the 6% to 7% range and even higher on the manufacturing side, through the end of the year," he said. "Normally there would be strategic cost management and we wouldn't see prices going above that 3%-mark in any kind of forecast."

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U.S. service sector prices could take longer-than-expected to ease as supply constraints make inflation pressures the industry's top challenge, Institute for Supply Management services chair Anthony Nieves told MNI Friday, adding he expects continued growth through the year.

"Based on recent forecasts firms see price growth in the 6% to 7% range and even higher on the manufacturing side, through the end of the year," he said. "Normally there would be strategic cost management and we wouldn't see prices going above that 3%-mark in any kind of forecast."

Keep reading...Show less