On Wednesday, Dow Chemical Chief Executive Andrew Liveris made a high-profile announcement that Dow would increase its prices by as much as 20%, starting June 1. Dow, the top U.S. chemical company, said the plan was necessary to offset the impact of rising costs for energy and related raw materials. Over the past year, Dow has already increased its price by about 12%, but those price changes have been phased in gradually rather than implemented all at once.
In the interview, Liveris said he thinks the U.S. is underestimating the level of inflation in the economy and he expects the rise in energy costs is beginning to destroy demand. Liveris expects the price increases his company made will eventually be passed on to the consumer: Bounce 2 CNBC Video
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