Price and Supply Risk Forecasting May 2023
Author : phoebe-click | Published Date : 2025-07-16
Description: Price and Supply Risk Forecasting May 2023 Arthurnelle Wade Life Science Commodity Manager Systemwide Procurement UCOP 1US Bureau of Labor Statistics April 2023 release May 2023 2BLS releases data for San Diego Riverside Area and
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Transcript:Price and Supply Risk Forecasting May 2023:
Price and Supply Risk Forecasting May 2023 Arthurnelle Wade Life Science Commodity Manager Systemwide Procurement, UCOP 1.U.S. Bureau of Labor Statistics April 2023 release May 2023. 2.BLS releases data for San Diego, Riverside Area, and San Francisco every 2 months. CPI Data Summary CPI West Region +4.9% +0.5% 1.Per Engineering News-Record. The BCI uses 68.38 hours of skilled labor, multiplied by the 20-city wage- fringe average for three trades–bricklayers, carpenters and structural ironworkers. The MCI uses 25 cwt of fabricated standard structural steel at the 20-city average price, 1.128 tons of bulk portland cement priced locally and 1,088 board ft of 2x4 lumber priced locally – May 3, 2023 Data Index Data Summary Construction 2. The California Department of General Services publishes the California Construction Cost Index (CCCI) which is developed based upon Building Cost Index (BCI) cost indices average for San Francisco and Los Angeles ONLY as produced by Engineering News Record (ENR) and reported in the second issue each month. 3. Source: Gartner Monthly Supply Chain Alert Supply Chain Risk Summary Current Conditions 3 Labor Logistics Materials Decreased Strain Decreased Strain Decreased Strain Food prices rose by 1.9% and beverage prices increased by 5.5%, thus some easing in the food production sector still households globally are struggling with price increases. Energy prices increased again by 5.7% in April, led by crude oil (+7.8%) and coal (+3.8%). Raw materials has a moderate increase of 1% and a slight decrease in metal prices of 1%. Commodity prices are projected to fall by 21% in 2023 and remain stable in 2024. Demand for transportation services continues to soften. Warehousing capacity still is constrained as inventory levels remain at some of their highest levels, meaning costs will remain high until utilization and availability improve. Demand for road services in the US and EU has softened, and lower diesel costs are a welcome relief. The job markets in the US and UK showed some signs of cooling, as job openings fell to the lowest level in almost two years. Hence, may be a sign that higher interest rates are beginning to impact the labor market. After the round of tech layoffs in late 2022 and early 2023, companies across other sectors are moving to slash jobs and cut costs amid a difficult economic landscape. Fewer jobs were added to economy as effects from the Fed’s interest rate increases take hold. 5/22/2023 5 Summary:
