Whirlpool Offsets Steel, Labor Cost Pressures With Higher Prices



Olivia Rockeman | Bloomberg

Soaring costs of materials, transportation and labor continue to constrain producers across the globe, and a number of U.S. companies are turning to a simple solution: raise prices for customers.

U.S. appliance maker Whirlpool increased its prices by as much as 12% earlier this year and has been able to offset higher costs for everything from steel to shipping to labor, Chief Financial Officer Jim Peters said in an interview. He expects the cost pressures to continue until at least the end of this year, but remains confident that consumer demand will also be healthy for an extended period of time.

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