TradFi News | Inflation Mentions on S&P 500 Earnings Calls Hit 820, Highest Since February 2024

Inflation-related terms came up 820 times on S&P 500 earnings calls in October, the highest monthly count since February 2024, Bloomberg reported on November 8. The rise reflects growing company concern about higher costs and weakening consumer confidence.The pace has picked up this month. One week into November, inflation mentions on earnings calls had already passed the total for all of November last year.Incomes Lag Behind PricesBloomberg Economics analysts said the latest personal income and spending data show inflation rising, while income growth has failed to keep pace with prices.Higher Oil Lifts Costs for CompaniesHigher oil prices have pushed up the cost of key raw materials such as fuel, fertilizer and plastic resin, according to Bloomberg. That is raising costs for airline operations and product packaging.General Motors expects higher prices for commodities, logistics and memory chips to cost it about $2 billion this year.Banks Flag Pressure on CustomersEven banks, usually better protected from rising costs, are talking about inflation more. Wells Fargo CEO Charles Scharf said persistent inflation and high interest rates are a headwind, and that the longer they last, the greater the pressure on consumers and corporate clients is likely to be.CPI Data Due TuesdayThe report comes ahead of US October CPI data on Tuesday, November 10, at 13:30 UTC. ING expects headline and core CPI to rise 0.3% month over month. Fed funds futures price about an 80% chance of a December rate hike, according to LSEG.