In 2021, when organic cotton and other raw materials prices spiked, the family that runs White Lotus Home, a New Jersey-based sustainable bedding company, hoped the 20% to 25% jumps were merely momentary and opted to absorb most of the costs.
In 2021, when the price of organic cotton and other raw materials spiked, the family that runs White Lotus Home, a New Jersey-based sustainable bedding company, hoped the 20% to 25% jumps were merely momentary and opted to absorb most of the costs. But earlier this month, Marlon Pando, White Lotus Home’s chief executive, emailed customers to explain that the 42-year-old company could no longer afford to do so, and that prices would go up in 2024.
Businesses “are raising their prices, but less quickly than they were a year ago or even two years ago, so we are seeing inflation moderate there,” said Mark Zandi, chief economist at Moody’s Analytics. “Their costs are rising, and they are passing some of that through, but I suspect it’s going to come in a lot more here going forward; because their costs are going to rise less quickly.
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