Kodak to raise prices because of production costs
Your wallet might take a beating.
Due to skyrocketing costs of materials, Kodak is going to have to rise the price on their products by 20 percent. Here’s the story of Reuters:
SAN FRANCISCO (Reuters) - Eastman Kodak Co said on Friday it will raise prices on some products by as much as 20 percent due to soaring prices for energy and raw materials such as silver and aluminum.
The news from the maker of photographic film and digital cameras was one of the biggest signs to date by a top consumer name that corporate America is starting to respond to inflation by passing on the costs to customers.
“The increases are a result of the soaring prices of key raw materials, especially silver and aluminum, as well as the rising cost of petroleum,” Kodak said in a statement.
Surging energy and commodity costs have been eating into corporate profits.
I wonder what this will do to other products as well. We’d better start getting nervous here.
For the full story, check out Reuters.