Inflation control: these companies raise their prices

If it looks like you’re paying more for everyday items, your suspicions are true.

As inflation rates have peaked in 13 years in the United States, many companies are raising prices to offset rising costs of materials such as aluminum and lumber, in addition to rising prices of gasoline and vehicles.

According to AAA, gas prices are on average $ 3.15 per gallon, the highest in at least seven years.

Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen and the White House say the inflation trend is temporary, but business leaders are not waiting for the final verdict: they are already taking action under the form of price increases.

FOX Business tracks companies that pass the higher costs on to their customers.

WALL STREET IS NOT SO SR THAT INFLATION IS TRANSITIONAL

Kimberly clark

Teleprinter	Security	Last	Change	Change %
KMB	KIMBERLY-CLARK CORP.	135.66	+0.71	+ 0.53%

With Americans seeing the coronavirus pandemic in the rearview mirror, the Irving, Texas-based company was forced to raise the prices of its toilet paper products after the company said it expected to earn between 6 , $ 65 and $ 6.90 per share, down from a previous forecast of $ 7.55. Along with the fall in stock prices, the company’s net sales growth is expected to be 1-3%, lower than the previous growth of 3-5%.

KIMBERLY-CLARK CUT FORECAST AS INFLATION WINDS STRENGTHEN

Harley davidson

Teleprinter	Security	Last	Change	Change %
PORK	HARLEY-DAVIDSON, INC.	40.61	+0.58	+1.45%

The Milwaukee-based motorcycle maker has indicated that prices will continue to rise with inflation. Materials such as aluminum and lumber costs saw the biggest inflationary increases. Transportation costs have increased as shipping times have slowed down. To offset the rising costs to the business, Harley-Davidson will implement a 2% surtax.

HARLEY-DAVIDSON WARNS FACE WINDS INFLATION WILL PERSIST

Whirlpool

WHIRLPOOL WARNS INFLATION OF DELIVERY OF $ 1B

Teleprinter	Security	Last	Change	Change %
RTH	CORP.	219.52	+4.84	+ 2.25%

Appliance maker Whirlpool has set a 12% price hike to offset inflationary costs. Many say this inflationary surge is temporary, but Whirlpool’s Mark Bitzer believes it can be a lifelong problem for many companies, and Whirlpool itself could lose a billion dollars. Despite higher inflation, sales for the Benton Harbor, Mich.-Based company jumped 32%.

General Mills and Constellation brands

GIANT SOUND INFLATION ALARM OF FOOD AND BEVERAGE

Teleprinter	Security	Last	Change	Change %
GIS	GENERAL MILLS, INC.	59.40	+0.60	+1.02%

General Mills, which produces brands such as Cheerios and Betty Crocker, expects total input cost inflation of around 7% in the current fiscal year. The company is also seeing higher costs associated with securing additional capacity and logistics.

Teleprinter	Security	Last	Change	Change %
STZ	CONSTELLATION BRANDS, INC.	224.58	+0.74	+ 0.33%

Constellation Brands, whose brands include Corona beer, Svedka vodka and other alcoholic beverages, are also raising prices, according to chief financial officer Garth Hankinson.

“We expect significant headwinds in inflation to intensify in the second half of our fiscal year,” Hankinson said on his company’s latest earnings conference call.

Jonathan Garber of FOX Business contributed to this article.