by Amy Feldman, Forbes
Nine out of 10 manufacturers intend to hike prices in the second half of this year, according to a new poll by Forbes, Xometry and Zogby. The increases will come on top of earlier hikes as nearly 62% said they’d already raised prices this year.
Though the Consumer Price Index rose at 4% in May, its slowest pace in two years, the manufacturing executives’ poll answers could be a sign of more inflation to come as the U.S. economy heads into the second half. Already in 2023, 57% of those polled said they’d boosted prices by at least 5%.
Another key finding: as we head into the U.S. presidential election season, the poll found clear support for President Joe Biden when respondents were asked to compare candidates’ manufacturing policies. Asked whether current federal policy on manufacturing helped their sector, 78% said that it did.