• In the last year, Petroleum, lubricating oils, and greases, along with kerosene, jet fuels, and gasoline have experienced significant amounts of inflation.
• Copper, nickel ores and nonferrous metal ores are experiencing 31%-41% inflation so far in 2011.
Other industries experiencing inflation are:
• Recyclable Materials – Inflation was very high in 2010, and is still at 20% – 30% in 2011
• Animal and Pet Food manufacturing – Dog and cat food, along with other animal feeds are on the rise and currently at about 12% inflation.
• Yarn, thread, and fabrics – These have been consistently rising since early 2010, and inflation in 2011 is currently showing as much as 13% inflation.
• Grocery Items — Grocery items have been consistently on the rise for the last year and are currently experiencing 15% plus inflation.
• Paint and painting supplies and Wallpaper – Inflation has been on the rise and is about 7%.
• Cigarettes – Inflation averaged 6% in 2010, and is showing 8% in 2011.
While the word inflation generally has a bad connotation, in today’s economy inflation is a positive sign of growth. I’ll be making additional posts in the coming weeks outlining specific case studies of how inflation benefits many companies.