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CEOs Fear That Inflation Will Persist Into 2023

  • Conference Board survey of global CEOs finds that more than half worry that inflation will persist into next year
  • More than four in five say supply chain disruptions are contributing to the problem
  • Inflation has rocketed up the list of issues business leaders are most concerned about after causing only mild worries in early 2021

Summary by Dirk Langeveld

Business leaders are concerned that inflation may persist into 2023 or even longer, according to a recent survey of global CEOs by the Conference Board.

The poll, issued to 917 respondents in October and November, found that 55 percent do not expect inflation to ease by the end of this year. Inflation was the second greatest concern CEOs said they were facing, trailing only the impact of COVID-19 – shooting up from the 22nd most pressing concern in a Conference Board survey earlier in the year.

The majority of CEOs said supply chain disruptions were contributing to inflationary pressures, with 82 percent saying they’ve been experiencing higher input costs.

  • The National Federation of Independent Business had a similar finding in its recent survey, with the share of small business owners naming inflation as their top concern rising 20 points in 2021
  • Wholesale prices were up 9.7 percent on an annual basis in December, while the Consumer Price Index rose 7 percent
  • The Federal Reserve is expected to increase its rates and take other steps to rein in inflation, which has persisted longer than initially expected

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