MILWAUKEE – The latest Wisconsin Employer Survey from Wisconsin Manufacturers & Commerce warned inflation costs are about to trickle down to customers.
“It is this historic inflation that we have not seen in 40 years,” Nick Novak, a vice president with WMC said. “Unfortunately, we’re seeing consumer costs going up— the latest numbers show inflation is up 7.5% over the last year, but the number we’re paying close attention to is what businesses are paying because that’s a leading indicator of what consumers will be paying down the line.”
WMC surveyed 265 Wisconsin-based businesses over several weeks on issues tied to inflation and ongoing supply chain disruptions, and Novak said most don’t see our high inflation rate coming to a breaking point any time soon.
According to the survey, roughly half of Wisconsin businesses have seen costs go up by 10 percent due to inflation.
Watch the full segment at SpectrumNews1.com.