Communicating price increases is a top challenge for businesses

Companies and consumers in the US and across the world have been grappling with record inflation in the last year. Our recent C-Suite Outlook 2022, a midyear update of our annual survey, found that, globally, passing increasing input costs to customers has been the most common reaction, taken by slightly more than half of all companies, followed by cost cutting (46 percent) and accepting lower margins due to higher input cost (39 percent).

But passing on higher costs doesn’t come easy to executives in the C-suite: 44 percent report the biggest external communications challenge in the current volatile environment to be communicating the impact of rising input costs on the pricing of their products and services.