Inflation May Affect Growth In POOL INDUSTRY BY JOE TRUSTY Photo Credit: Jimi Smith Photography
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nflation jumped 7.5% year over year in the latest report released by the Labor Department on Thursday. Consumers saw the highest jump in prices since 1982 according to analysts. If you’re in the pool industry though you hardly needed to wait for the report to tell you what you’ve already known for some time; prices are going up. Experts in the pool industry have already felt the results of inflation in the form of rising costs across the board on
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manufacturing, raw materials, and salaries. The jump in inflation numbers comes as no surprise to those who’ve seen an increase in demand for goods and services related to pools over the last two years Gains have led to recordbreaking growth years for companies as consumers were ready to pay more for products. In the industry, most major manufacturers reported sharp upticks in revenue and growth; defying pundits who’ve been predicting a reversal coming.
POOL MAGAZINE - VOL 2, ISSUE 2
During year one of the Covid-19 pandemic, the federal government provided financial assistance to individuals and businesses in the form of stimulus payments, increased unemployment benefits, and enacted the Paycheck Protection Program under the CARES Act. These unprecedented efforts by the government likely spared millions from financial ruin, but the influx of all that cash has undeniably caused inflation rates to skyrocket.
Will Inflation Impact the ’22 Pool Season? We reached out to folks on social media to get their take on what is going on and how they perceive it will impact their business.
