The head of Wisconsin Manufacturers and Commerce warns rising energy costs tied to the war between Russia and Ukraine will impact factories and consumers in the state.
WMC President and CEO Kurt Bauer said in a statement the immediate impact of Russia’s invasion of Ukraine will drive energy costs “even higher than they already are.”
“Rising energy costs are very regressive for consumers, especially during the home heating season. But rising costs will also have a major impact on factories in a manufacturing state like Wisconsin,” Bauer said. “Higher producer costs are upstream of consumer costs, which means the Russian invasion will exacerbate existing inflationary pressures.”