I won't speak to service industries, but right now in most manufacturing industries, costs are up across the board. The labor market has become super-competitive, so labor is up. Those are market forces, not government programs, of course.
Raw materials are up as well for numerous reasons. One of those is because THEIR labor costs are up for the same reasons. Additionally, as so many OEMs come back and place huge orders, the suppliers have more demand than supply. So the price goes up again, due to natural market forces.
Limited supply of trucks, boats, and airplane cargo space, causes all of those costs to increase, but only part of that is a labor cost impact. Limited availability of dock workers in the nation's largest ports is making a huge impact as well, this IS a labor cost impact.
As an OEM, we're pushing some of those costs on to customers, but we're also eating a bunch of it. We can only do so much in the free market and our competitors are dying to steal market share from us, we have to strike a balance.
All of that to say it's all very complicated and pointing to one factor as the primary driver is invalid. At the same time, labor cost increases factor into the equation at every single level of the value chain, so they're additive.
