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Most CEOs believe high inflation will hit 2023

2022-01-13T19:52:40.872Z


55% of CEOs around the world fear that price pressure will remain high until mid-2023. 7% inflation in the US, what can you expect? 0:48 New York (CNN Business) -- Inflation now tops CEOs' list of concerns. More than half (55%) of CEOs around the world fear price pressure will remain elevated through mid-2023 or beyond, according to a survey released Thursday by The Conference Board. According to the survey, inflation is now the second-largest external threat to businesses, up f


7% inflation in the US, what can you expect?

0:48

New York (CNN Business) --

Inflation now tops CEOs' list of concerns.


More than half (55%) of CEOs around the world fear price pressure will remain elevated through mid-2023 or beyond, according to a survey released Thursday by The Conference Board.

According to the survey, inflation is now the second-largest external threat to businesses, up from 22nd a year ago.

The main concern continues to be interruptions due to covid-19.

  • A New Key Inflation Indicator Hits All-Time High in the United States

Consumer prices soared 7% in December from a year earlier, the biggest increase since June 1982, the Bureau of Labor Statistics (BLS) reported on Wednesday.

A staggering 95% of manufacturing CEOs surveyed by The Conference Board say they face upward pressure from commodity prices, wages and other inputs.

They pointed to supply chain disruptions, worker shortages and turbulent energy prices as their top concerns.

Production prices, that is, those charged by suppliers to companies, increased by 9.7% in 2021, the BLS reported on Thursday.

This is the fastest pace since the government began tracking them in 2010. However, between November and December producer prices rose by just 0.2%, the smallest month-on-month increase since November 2020.

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Fewer than 40% of CEOs indicated that their companies are "well prepared" for an "inflation-related crisis," according to The Conference Board's survey.

  • Consumer price inflation reaches its highest level in almost 40 years in the United States

Business leaders plan to tackle inflation by cutting costs and, above all, passing the increase on to consumers in the form of higher prices, The Conference Board said.

According to the survey, there is currently little sign that CEOs are willing to "absorb price increases" by allowing them to eat into profit margins.

The survey of more than 900 CEOs, first reported by The Wall Street Journal, was conducted between October and November 2021.

Inflation

Source: cnnespanol

All news articles on 2022-01-13

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