Inflation has become a major concern for business executives around the world, who are worried it will persist beyond 2022, according to a survey released Thursday by the Conference Board economic research center.
The price hike comes second among the challenges that the 917 executives surveyed expect to face this year, behind disruptions linked to the Covid-19 pandemic.
Last year, inflation only came in 22nd place in this same ranking.
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Among European leaders, this question even points to the problems to be managed in 2022. Some 55% of officials surveyed around the world expect to experience inflationary pressures until at least mid-2023. About 82% of executives surveyed said they recorded increases in their costs, a proportion rising to 95% in the manufacturing sector.
According to the survey, there are "
few signs
" that the bosses plan to absorb the rising costs and cut into their margins.
On the contrary, most intend to pass these increases on to their selling prices.
More and more companies are finding that they have the latitude, in this inflationary context, to increase their prices.
"
There might be less worry about losing market share because of prices
" and their increase, the study authors write.
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Another consequence is the lower priority given to cost reduction, which only comes in 15th place among American business leaders and in 10th place among bosses in Europe and Japan.
This trend is especially marked in service companies, with industrial company executives ranking cost reduction fifth.
