Tesla, SpaceX face ‘inflation pressure’ in raw materials: Musk
Elon Musk affirms that SpaceX and Tesla are not the only firms that are facing inflationary pressures in raw materials and logistics.
"What are your thoughts on the likely inflation rate over the next few years?" Musk asked on Twitter, adding, "Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics."
Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics— Elon Musk (@elonmusk) March 14, 2022
The billionaire stated that his companies are not alone in this regard and posted a link to a Financial Times article published in early March, which stated that the S&P GSCI index (formerly the Goldman Sachs Commodity Index - a broad barometer for the price of global raw materials and a leading measure of general price movements and inflation in the global economy) was at its highest level since 2008 and was on track for the sharpest rise in more than 50 years.
Earlier this month, French economist Jacques Sapir, who heads the EHESS School in Paris, told Sputnik that volatile European markets are on the verge of failure and inflation, though panic is not yet visible. Sapir predicted a "spectacular" increase in raw material prices because the supply is largely Russian.