The Impact of Surging Wood Prices on Supply Chain Costs
The pandemic-related surge in wood prices has had a dramatic impact on the economy. The surge helped trigger massive price hikes in the housing market and came to symbolize the rampant inflation many economists feared would accompany an economic recovery. It has also driven up some supply chain costs to unprecedented levels. The surge in prices was caused primarily by a lack of cut lumber, which is wood produced by sawmills for use in everything from building houses to making wooden shipping pallets. In the early months of the pandemic,…
