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Economics

U.S. Businesses See Record Price Growth in April S&P Survey

  • S&P Global composite input, output price gauges at records
  • Flash U.S. composite PMI falls to 55.1; factory gauge rises
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A measure of prices received by U.S. manufacturers and service providers increased to a record in April as firms shifted the burden of higher wages and surging costs to customers, further fanning inflationary pressures.

A report Friday from S&P Global also showed an index of input price growth jumped to a record high, reflecting rising costs of raw materials, fuel, transportation and labor. The price pressures seen across both the manufacturing and service parts of the economy suggest inflation will remain elevated for the foreseeable future.