Industry supplier Graphic Art Mart has announced 5-10% price rises on most products from 7 November. Global manufacturers Sun Chemical and Flint Group also outlined new price increases caused by “unprecedented” inflation.
|Graphic Art Mart's branch at North Rocks, Sydney|
“The conflict in Europe, raw material supply shortages, escalating transport, energy and fuel costs, currency devaluation and general inflationary conditions have impacted all aspects of business,” said Mousa Elsarky, executive GM, Graphic Art Mart.
“While we have made every endeavour to insulate you from the impact of these inflationary pressures, it is necessary for our business to now pass on the increases that have been implemented by our suppliers.”
On Monday 7th November 2022, Graphic Art Mart will increase the prices of most products by between 5-10%.
“It is also necessary to increase some freight charges in line with rises from our freight providers,” Elsarky told customers. “Our freight free threshold will increase slightly to $350 with normal metro freight charges for orders below the threshold increasing to $15 per order and $30 for regional orders. We remain committed to offering you the industry’s highest service levels across our 10 branches Australia wide. The Graphic Art Mart business continues to support its customers by not charging small order handling or pick up fees and will not impose a minimum order value for purchases.”
Flint Group said it would implement a global price increase effective Jan. 1, 2023, in order to respond to continued inflationary pressures across multiple cost drivers.
“Following an extended period of volatility and cost escalation during the global coronavirus pandemic, it is clear that we are now witnessing a fundamental shift in global economic conditions. Markets around the world are grappling with extreme inflationary pressures and the disruption of global supply chains.
“Flint Group has continued to endure extraordinary cost increases in raw materials, packaging and freight which are now being exacerbated by additional inflationary pressures across a variety of other overheads - labour costs in particular.”
Steve Dryden, CEO of Flint Group: “At Flint Group we are used to successfully meeting macro-economic challenges, but we are now entering a new environment of relentless cost inflation of a magnitude not witnessed in decades.
“Despite the continual implementation of an extensive range of efficiency programs, the magnitude of the cost increases means the company is reluctantly compelled to raise prices, effective Jan. 1, 2023. The company will implement a general price increase to recover inflationary costs, primarily related to labour.
“The company is also cognizant of events in Europe, which have restricted the availability of natural gas from Russia. The mechanisms to ensure continued supply of products to our customers in this region will be the subject of a separate communication.”
Sun Chemical announced last week it would increase prices immediately across its portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East, Africa.
“The current geopolitical situation in Europe continues to upset the unprecedented inflationary trends further, with severe impact onto operating costs, including utilities and labour costs, through the entire supply chain,” the company said. “Sun Chemical continues to strive for finding ways of mitigating these costs, but the magnitude and speed of cost increases requires the company to further increase prices.”