Pricing Pressure: Consumers are paying higher prices as inflation keeps creeping up
The pandemic is a big factor in those increases, which cover a wide range of products. Some raw materials are in short supply too, which adds further pricing pressure. Meiclerโs competitors face the same problem, so do other industries including the auto industry where a global semiconductor shortage has delayed production, decreasing supply. Restarting production lines and securing raw materials takes a robust workforce and that end of the economy is just starting to come back online in many industries. So far, demand is outstripping supply, but Rodriguez expected it to level it out later this year.