Thursday, August 4, 2022

Tesla shareholders meet Musk: the global economy has passed peak inflation

Tesla(Tesla) CEOmuskin the yearshareholders meetingThere are signs that the global economy has passed the peak of inflation.

Musk said at Tesla’s annual shareholder meeting on the 4th that Tesla’s commodity prices and raw material costs are expected to continue to decline over the next six months, and reiterated that a mild recession is expected in the future, lasting up to 18 months. can stay. “The overall trend is declining, indicating that we are at the peak of inflation,” he said, emphasizing that inflation will decline sharply at some point in the future.

Central banks around the world have embarked on a tight cycle to prevent inflation from crushing consumers and hurting corporate income. US The consumer price index (CPI) rose 9.1% in June, and Fed officials said price growth has not slowed; The US is expected to announce the latest inflation data on the 10th.

Musk said, “We have some sense of where prices are going, because Tesla often has to source raw materials months in advance. He added: “It’s interesting that most, if not all, of our raw materials, which are That is, the majority of the raw materials used by Tesla have a consistent declining trend in prices for more than half of our items over a six-month period. , ,

Despite Tesla’s global clout in input costs and consumer health care, Musk warned that making generic forecasts was a disaster, stressing that his comments were “speculation” and “100 percent”. ,

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