Increased prices for commodities and transportation, costs incurred due to the impact of the COVID-19 crisis, arrears of price increases not implemented in 2020: As expected, all these factors are driving up inflation rates. However, most companies are not prepared for the economic impact. Dr Peter Colman, Partner and shareholder at strategy and marketing consultants, Simon-Kucher & Partners, explains how companies can manage and pass on cost increases by developing robust price rise processes.
The inflation rate in the UK has recorded its biggest ever jump, leaping from two percent in July to a nine-year high of 3.2% in August, according to the Office for National Statistics (ONS) – a sharp increase from the Bank of England’s target rate of two percent. Experts attribute this development to a rebound…
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