Last fall, the adjective attached to inflation was “transitory.” While many economists and others still believe high prices will pass, many now see them lingering longer than first expected. That impacts all business and their customers, including HVAC contractors.
The reasons for high inflation range from higher labor costs to shipping and production delays to bad weather. HVAC equipment prices from most manufacturers have increased several times in the past year. Business owners responding to a survey by the Institute for Supply Management report the high prices and lack of supply of HVAC equipment impacting their bottom lines.