Here comes inflation, should you be concerned? With #RolfTheRoofingGuy

Here comes inflation, should you be concerned?

From a recent Poll:
· 64% of Business Owners said they were frustrated by the Supply Chain Disruptions.
· 24% were worried of Labor Shortages.
· 18% said they were concerned about price Inflation.

The last number surprises me, but my hunch is it will go way up in the next few months when the reality of inflation sets in.

Here is some current inflation data, for the period ending October 31st:
· Shipping Containers Up 800%
· Gasoline Up 62%
· Rental Cars Up 43%
· Bacon Up 28%
· Turkey Up 27%
· Used Cars Up 26%
· Hotel Rooms Up 25%
· Pumpkin Pie Up 20%
· Eggs Up 12%
· Inflation Up 6.5%
Source: Bureau of Labor Statistics

So what else could go wrong?

Many Building Owners are concerned by the long lead times, and they should be. The normal year-end rush to get roofs installed has begun. But it’s different this year, the rush is to try to get a roof purchased, so the roof can be installed before the END OF NEXT YEAR. The lead time for some materials is so long now, that it’s possible that if the roof isn’t purchased in the next month, it may not be installed until 2023.

What should you do?

· Get Good advice.
· Plan, consider multiple options.
· Lock in the project.
· Set a Contingency Budget. No one knows where inflation will take us next year.

If any of this resonates with you and you’d like to discuss options or get a deeper industry update, let me know.

Rolf Snobeck, RRC
630-514-1867
#RolfTheRoofingGuy, helping you make better #roofing decisions.
Tecta America Commercial Roofing
rsnobeck@tectaamerica.com

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