Didn't read other responses but I am in the industry and represent companies in CE, Computing, Audio Video and all vendors have spoken to component increases across the board . Wood, Metal, Plastics, Chips, Panels all have increases in prices. Demand is outpacing supply in almost all cases due to sales as well as logiistics which i will get into in more detail.
There are also Tariffs that went into place that are still in place on certain goods out of China which have contributed to the increase. I have had manufacturers raise 2 and 3 times during covid. Some only once but none with no price increases.
Now to the logistics which is killing everyone. Prior to covid I had vendors paying around $2,000 for a 40Ft container . During covid cost increased to $4,000 to $6,000 in the last two months containers went to $11,000- $15,000 and then in the last few weeks quotes are now $22,000 to $25,000 a container out of asia. Lets say you can even get space on a ship. The goods are sitting on the docks in asia for weeks before getting on the ship. Then when they get here they sit off the cost for a few more weeks. Then when they get to the docks they sit there for a few more and all of these delays have to do with lack of personal to move the product. . Now you are in the US with goods and logistics to move from the port to DCs has also skyrocketed. Net net time and money has caused increases accross the industry and is also affecting all other industries as well. Our vendors give you estimates with the caveat that it could swing up to a month
No one wants to talk about inflation but think about it, Your grocery bill is at least 25% more , if you go to dinner meals are out of control. Ok places charging $40 plus for an entree , high end places $60 plus. Gas and oil prices which then seep into all goods made with petroleum products. Lumber although has come down a bit was up 4 X cost. Lots of products OOS on items you need to build. Try to get a pool contractor these days they will tell you 2 years. Cant even get the fence to put around the pool.
Crazy times and the expectations are Q4 will be horrible this year as majors are decommitting quantity of goods to major retail and only promising 45% of delivery. Many manufacturers are caught trying to decide to build goods at a much higher cost and get stuck if prices normalize. Others taking the risk and others just not building.
Maybe back to normal next year
There are also Tariffs that went into place that are still in place on certain goods out of China which have contributed to the increase. I have had manufacturers raise 2 and 3 times during covid. Some only once but none with no price increases.
Now to the logistics which is killing everyone. Prior to covid I had vendors paying around $2,000 for a 40Ft container . During covid cost increased to $4,000 to $6,000 in the last two months containers went to $11,000- $15,000 and then in the last few weeks quotes are now $22,000 to $25,000 a container out of asia. Lets say you can even get space on a ship. The goods are sitting on the docks in asia for weeks before getting on the ship. Then when they get here they sit off the cost for a few more weeks. Then when they get to the docks they sit there for a few more and all of these delays have to do with lack of personal to move the product. . Now you are in the US with goods and logistics to move from the port to DCs has also skyrocketed. Net net time and money has caused increases accross the industry and is also affecting all other industries as well. Our vendors give you estimates with the caveat that it could swing up to a month
No one wants to talk about inflation but think about it, Your grocery bill is at least 25% more , if you go to dinner meals are out of control. Ok places charging $40 plus for an entree , high end places $60 plus. Gas and oil prices which then seep into all goods made with petroleum products. Lumber although has come down a bit was up 4 X cost. Lots of products OOS on items you need to build. Try to get a pool contractor these days they will tell you 2 years. Cant even get the fence to put around the pool.
Crazy times and the expectations are Q4 will be horrible this year as majors are decommitting quantity of goods to major retail and only promising 45% of delivery. Many manufacturers are caught trying to decide to build goods at a much higher cost and get stuck if prices normalize. Others taking the risk and others just not building.
Maybe back to normal next year