Tesla, SpaceX Seeing ‘Significant Inflation Pressure’ in Raw Materials, Logistics - Musk

WASHINGTON (Sputnik) - SpaceX and Tesla CEO Elon Musk says his companies are experiencing inflation pressure in raw materials and logistics.

"What are your thoughts about probable inflation rate over next few years?" Musk said on Twitter, adding in another tweet that "Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics."

Musk said that his companies are not alone in that respect and posted a link to a Financial Times article published at the beginning of March, which says that the S&P GSCI index (formerly the Goldman Sachs Commodity Index - a broad barometer for the price of global raw materials and a leading measure of general price movements and inflation in the world economy), was at its highest level since 2008 and was on track for the sharpest rise in over 50 years.

Sanctions on Russia, imposed due to its military operation in Ukraine, have taken their toll on oil and gas prices, as Russia remains one of the major energy suppliers in the world.

Earlier this month, French economist Jacques Sapir, who heads the EHESS school in Paris, told Sputnik that volatile European markets are headed for failure and inflation, although panic is not surfacing at the moment. Sapir predicted a "spectacular" increase in the price of raw materials, since the supply is Russian for a large part (gas and oil, metals, and wheat) and could suddenly decrease with sanctions.

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