BIDENFLATION: Elon Musk tells shareholders official numbers are much worse

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Elon Musk says he thinks inflation is worse than people believe, and that it will likely keep going through 2022.

During a company earnings call on Tuesday, Tesla CEO Elon Musk issued a warning about inflation.

He told shareholders that the official numbers hide the severity of the situation, and that in reality, things are much worse.

“I think the official numbers actually understate the true magnitude of inflation,” Musk said, “and inflation appears to be likely to continue for at least the remainder of this year.”

He went on to state that some Tesla suppliers are requesting 20% to 30% cost increases for parts in 2022 compared to 2021.

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