BILOXI, Miss. - Inflation and rising interest rates were topics under discussion on the second day of the 91st Annual Municipal League Conference. City leaders from across Mississippi gathered at the Coast Coliseum for the educational sessions. Some 200 companies had sites in vendor hall to promote their services. There was one thing all had in common. “Supply’s extremely low. Demand’s extremely high,” Josh Parker, with Caterpillar machinery company Puckett Power, told WLOX. “We’ve had several price increases this year, several more to come.” Interest rates are starting to rise throughout the market, he said. “We’ve seen several price increases on machines" and that’s all due to inflation and rising costs of components. “Obviously, the cost of everything: construction, labor, you know, everything ... (is) all tied to fuel" and labor shortages, said Lee Frederick with the Mississippi Department of Transportation. From roads to houses, it's not easing up. “People are looking at manufactured housing" for getting more for the buck, said Jennifer Hall, Executive Director of the Mississippi Manufactured Housing Association. The group is made up of about 48 manufacturers that ship ready-made homes to Mississippi. However, with rising interest rates the group's loan rates have gone from 4% to 6% - the same as site-built homes. These higher prices are brining budget realities to municipalities. The conference concludes June 29. (Source: WLOX 06/38/22)
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