The pricing and lead time on goods have increased during COVID-19. One of the leading factors is the labor shortage. Since there are less workers available, companies are offering higher wages and incentives to obtain more employees. This is heavily affecting the transportation industry because these companies can't find anyone to work for them. The other increasing logistical costs are tariffs, fuel, and freight delivery surcharges. Ken Simonson, the chief economist at Associated General Contractors of America explained what is happening to construction prices now:
July was the sixth-straight month of double-digit price increases for construction inputs. In addition, lead times to produce or deliver many items keep lengthening. Many reports since the government collected this price data in mid-July show the trend will continue, at a minimum into the autumn and likely beyond, unless tariffs and quotas are removed.With this trend expected to continue, businesses must be careful how they are pricing their products.
Full article can be found at Vermont Biz.