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CNBC: Warren Buffett Says Berkshire Hathaway is Seeing ‘Very Substantial Inflation’ and Raising Prices

CNBC: Warren Buffett Says Berkshire Hathaway is Seeing ‘Very Substantial Inflation’ and Raising Prices

By: Christine von Liederbach
May 5, 2021
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Article by Yun Li in CNBC

Warren Buffett is seeing inflation among Berkshire Hathaway’s collection of businesses as the economic recovery from the Covid pandemic kicks into high gear.

“We are seeing very substantial inflation,” the Berkshire chairman and CEO said at the conglomerate’s annual shareholder meeting Saturday. “It’s very interesting. We are raising prices. People are raising prices to us and it’s being accepted.”

“We’ve got nine homebuilders in addition to our manufactured housing and operation, which is the largest in the country. So we really do a lot of housing. The costs are just up, up, up. Steel costs, you know, just every day they’re going up,” the legendary investor added.

Inflation has begun to accelerate recently due to multiple factors, including increasing demand and struggles with some areas of the supply chain, as well as just easier comparisons with the pace of a year ago. The core personal consumption expenditures price index, which excludes volatile food and energy prices, rose 1.8% in March, the fastest pace since February 2020. The headline number increased 2.3%, the quickest pace for that measure since 2018.

The Fed has resolved not to raise interest rates until the economy sees full, inclusive employment, so long as inflation doesn’t run too far above the goal.

Higher price pressures could weigh on stocks as inflation erodes the value of …..

To read this article in CNBC financial website in its entirety, click here.

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Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.
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