Pepsi, Hershey, UPS and other earnings reports hint that inflation pressure is mounting

Inflation is beginning to show up in first-quarter earnings, with a slew of quarterly reports on Thursday highlighting the pressure on margins from the rising costs of a range of raw materials, from fuel to freight costs to food and even wages.

Oil prices, which are mostly dictated by supply-and-demand dynamics, are currently at a 3½-year high, raising costs for energy-dependent industries, such as airlines and transportation and logistics companies. But recent surveys show that companies are paying more for a range of raw or partly finished goods, as MarketWatch’s Jeffry Bartash has reported.

These include steel, which has been impacted by the recently announced Trump administration tariffs on foreign imports.

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