by Wolf Richter
Wolf Street
Can’t meet demand due to shortages of labor, components, and materials. And facing soaring input costs, they’re jacking up prices at record pace.
Manufacturers struggled to ramp up production to meet rising demand, hampered by material and component shortages, labor shortages, difficulties in keeping employees because they’re going after better opportunities, long lead times, shipping delays, port congestion in the US and China, rolling blackouts in China, and transportation chaos. Getting goods out of Asia is particularly tough. They’re having to pay more for everything, and they’re passing on those cost increases via record price increases, and they’re not seeing any letup of those increases in costs and prices.