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Spectrum News 1: Historic Inflation Drives Double-Digit Cost Hikes for Employers

WISCONSIN – WMC’s Nick Novak joined Spectrum News 1 to discuss the latest findings of the Wisconsin Employer Survey. According to the survey, 82 percent of employers have been negatively impacted by inflation and nearly half of them have seen costs increase by over 10 percent thanks to historically high inflation.

Notably, one in five companies have seen costs go up by more than 20 percent. Information from the Wisconsin Employer Survey matches what is happening nationally. The producer price index – which measures the final cost of goods and services paid by employers – was up 9.7 percent over the last year, which is nearing a record high.

Watch the full segment at