Companies' cost inflation is slowing but shoppers may wait for lower prices

Cost of goods inflation will be "significantly" lower this year - Reckitt expects 5% to 9% versus 18% last year, the company's finance chief Jeff Carr said on a call on Wednesday to discussCarr said that while salary costs have increased, commodities are a "mixed bag" and freight costs have declined. First quarter price/mix, a basket of variables the company uses to help determine what prices to charge, rose 12.4% while sales volumes declined 4.5%.

"Our pricing obviously will be measured in 2023, where we did most of our heavy lifting or pricing in 2022," Carr said. Danone CFO Juergen Esser told a post-earnings call with analysts that while labour costs, liquid milk and sugar prices are up, some other costs are down, so "we expect inflation to decrease through the year".and volume/mix rose 0.2%.

It is unclear when companies may start passing on some of their lower costs to customers. On Tuesday, Associated British Foods said it does not expect many more price increases in the second half of this year, as costs including wheat, vegetable oils, freight and energy start to fall.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

High court denies energy companies' appeals in climate suitsThe Supreme Court on Monday rejected appeals from oil and gas companies that are fighting lawsuits from state and local governments over whether they can be held responsible for harms resulting from global warming.
Source: wjxt4 - 🏆 246. / 63 Read more »

Bed Bath & Beyond bankruptcy: These companies could benefit from the retailer’s demiseA number of companies across the retail spectrum could benefit from Bed Bath & Beyond’s bankruptcy.
Source: MarketWatch - 🏆 3. / 97 Read more »

High court denies energy companies’ appeals in climate suitsThe Supreme Court on Monday rejected appeals from oil and gas companies that are fighting lawsuits from state and local governments over whether they can be held responsible for harms resulting from global warming.
Source: WashTimes - 🏆 235. / 63 Read more »

Ex-bookkeeper for two San Diego companies sentenced for embezzling fundsA San Diego woman who worked as a bookkeeper for two local companies and embezzled more than $900,000 from her employers was sentenced Monday to two years and five months in federal prison.
Source: 10News - 🏆 732. / 50 Read more »

Big Tech Companies Are Becoming More Powerful Than Nation-StatesThey are already richer than many countries, and the rise of AI looks set to increase their influence.
Source: commondreams - 🏆 530. / 51 Read more »