Sherwin-Williams has quietly added a 4% ‘supply chain charge’ to its paint. It’s the latest business to hide a price hike with extra fees.
The report came a day after the government said inflation at the consumer level rose 5.4% in September from a year earlier, matching the highest rate since 2008. The market largely took the inflation reports in stride, which suggests investors may be feeling more at ease since the Federal Reserve has signaled it may begin to taper the unprecedented financial support it has been giving the economy since the early days of the pandemic and eventually begin raising its benchmark interest rate in order to combat rising inflation.
“The market is a lot more concerned about inflation than it is about interest rates going up,” Frederick said. “At this point, yes, inflation is high, but the Fed seems like its ready to raise rates to control it and the market seems to be comfortable with that.” Rising inflation has been raising costs for consumer goods. Analysts are concerned that could affect how much people spend and slow down the economic recovery. Investors will get an update on spending Friday when the Commerce Department reports retail sales for September.
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