Global chemical producer Dow Chemical Co. (DOW) announced Wednesday that it would raise prices on all 3,200 of its products – some by as much as 20% – beginning at the start of the third quarter.
Bloomberg News said it's the single-biggest price increase in the Michigan-based company's 111-year history. But Dow Chief Executive Officer Andrew Liveris said the price hike was made necessary by "unparalleled" increases in the costs of energy, transportation and raw materials, which together boosted Dow's expenses 42% in the first quarter.
Does anyone actually believe the US Governments 3% inflation numbers?
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