Data: 91% of Manufacturers Plan to Raise Prices in 2023 2nd Half - Modern Distribution Management

Log In

Data: 91% of Manufacturers Plan to Raise Prices in 2023 2nd Half

Nine out of 10 manufacturers say they'll increase prices in the second half of this year, according to a new poll.
Manufacturers’ and trade inventories for January 2023 were down 0.1% from December 2022 — but up 11.1% from January 2022.

According to a new poll from Forbes, Xometry and Zogby, roughly nine out of 10 manufacturers intend to raise prices in the second half of this year.

Nearly 62% of businesses have already raised prices this year, adding to earlier increases, according to a new report from Forbes.

Fifty-seven percent of those polled said they had already raised prices by 5% or more in 2023.

Even though the Consumer Price Index rose at its slowest pace in two years in May, manufacturing executives’ poll answers may indicate more inflation to come as the U.S. economy enters the second half of the year.

Producer prices in the U.S. also dropped more than expected in May as prices for energy and food declined, according to the Bureau of Labor Statistics and business media reports.

As part of a survey conducted by Forbes and manufacturing company Xometry in early June — powered by veteran polling firm John Zogby Strategies — 150 U.S.-based executives were asked how manufacturers were handling rising costs, supply chain disruptions and a potential recession.

“An increasing number of executives are investing in artificial intelligence, with 61% doing so this quarter versus 51% in the previous poll in April,” Forbes reported. “The majority who are adopting AI (69%) already see a return on their investment. Yet, an even higher number (86%) of executives support federal regulations of the technology. Almost all (95%) said they believed that AI would likely become a top issue for voters, and 83% expressed support for the formation of an AI presidential task force.”

The poll also included questions about which presidential candidate and voting party manufacturers favor.

Read more about the new polling data here.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.