"The persistent and industry-wide raw material availability constraints and pricing inflation we have previously reported have worsened, and we do not expect to see improved supply or lower raw material pricing in our fourth quarter as anticipated," the company's chief executive, John Morikis, said in a statement. This puts a financial squeeze on many households as the economy gradually recovers from the worst conditions since the Great Depression.Īlthough chronic shortages of microchips and medical supplies have received the most attention, many components and raw ingredients used in a wide variety of products also have been harder to find, pushing consumer prices higher.Ĭleveland-based Sherwin-Williams, the country's largest paint company, warned investors last month that its manufacturing costs were rising and that this would result in higher retail prices. The Inland Empire posted the nation's highest inflation rate in September, quadrupling to 6.7%.įood, energy, housing - all more expensive. That's the sharpest increase in 13 years. Some context: Practically everything has gotten more expensive in recent months because of pandemic-related shortages and supply-chain issues.Ĭonsumer prices rose by a larger-than-expected 5.4% last month from a year ago, according to the Labor Department. "The guy said that because there's a shortage of their raw materials, they have to charge more," Granadino told me. Granadino called the store to ask what's up with that. There'd been no advance warning that a surcharge was being imposed - it was just quietly tacked on at the checkout counter. He's repainting the den of his South Los Angeles home.Īfter the purchase, Granadino, 40, took a look at his receipt and was surprised to see a 4% "supply chain charge." Hugo Granadino recently stopped by the Sherwin-Williams paint store in Inglewood to pick up some rollers and brushes. Sherwin-Williams has quietly added a 4% "supply chain charge" to its paint.
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