By NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — A survey of Midwest manufacturing supply managers released this week is showing that getting the materials they need is a struggle right now.
"More than 90% are indicating that they are having difficulty getting inputs in and outputs out," said Creighton University economist Ernie Goss. "That's really a big issue and likewise, rising input prices. Supply managers are reporting some fairly brisk upward pressure."
The managers also said they are going to pass that cost along. Both sides of the cost equation are putting on pressure.
"Demand did increase and on the other hand, we had cuts in supply," Goss said. "Workers are still out there. Nationwide, we've got more than 10 million job openings and we've got fewer than that unemployed. There's 1.2 jobs out there for every unemployed worker, so that's pushing up prices as businesses just have to scamper to find workers."
The Fed has said that later this year they are going to allow interest rates to rise.
"Borrowing costs are going to increase for mortgages, for example, but even that's not significant," Goss said. "We're going to have to put up with more and more inflationary pressures as fuel prices rise, as we see empty shelves out there."
Those in need of specialty items are likely to find them harder to come by. If you're used to seeing something on store shelves, it may take an online order to get your preferred brand, if it's available at all.