Prices Continue to Rise in April as Forecasts Shows No Signs of Relief

Prices Continue to Rise , in April as Forecasts Shows, No Signs of Relief.

'Bloomberg' reports that U.S. manufacturers and service providers have shifted the burden of rising wages and surging costs to consumers.

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'Bloomberg' reports that U.S. manufacturers and service providers have shifted the burden of rising wages and surging costs to consumers.

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According to an April 22 S&P Global report, the index of input price growth jumped to a record high.

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According to an April 22 S&P Global report, the index of input price growth jumped to a record high.

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The spike in prices reportedly reflects the rising cost of raw materials, fuel, transportation and labor.

Many businesses continue to report a tailwind of pent-up demand from the pandemic, but companies are also facing mounting challenges from rising inflation and the cost-of-living squeeze, as well as persistent supply chain delays and labor constraints, Chris Williamson, chief business economist at S&P Global, via 'Bloomberg'.

Many businesses continue to report a tailwind of pent-up demand from the pandemic, but companies are also facing mounting challenges from rising inflation and the cost-of-living squeeze, as well as persistent supply chain delays and labor constraints, Chris Williamson, chief business economist at S&P Global, via 'Bloomberg'.

According to 'Bloomberg,' persistent supply disruptions, limited capacity and record inflation have all impacted consumers’ willingness to spend.

Snarls in the global supply chain are expected to continue as Russia's war in Ukraine and China's COVID lockdowns continue.

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Snarls in the global supply chain are expected to continue as Russia's war in Ukraine and China's COVID lockdowns continue.

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In April, both service providers and manufacturers saw backlogs grow at the second-fastest pace since 2009.

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In April, both service providers and manufacturers saw backlogs grow at the second-fastest pace since 2009.

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At the same time, delivery times from suppliers lengthened.

'Bloomberg' reports that employment continued to grow in April, despite slowing slightly from March.

Overall, the S&P Global flash U.S. composite PMI dropped 2.6 points to reach 55.1.

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According to 'Bloomberg,' any reading above 50 indicates growth