In the past two years, the PVF sector has faced a multitude of challenges, that, when combined, created what some call the perfect storm. Concerns among plumbing professionals included supply chain shortages and trade disruption, material price increases, freight inflation, fleet shortages and more.
While 2023 is a new year, most of these concerns are still valid in today’s uncertain market. Over the past year, the U.S. experienced inflation climbing at the fastest pace in 40 years across many sectors of the economy, driven in part by higher energy prices. The consumer price index reached a whopping 9.1% in June per the Bureau of Labor Statistics. The last time inflation reached over 9% was November 1981, according to The Washington Post.