This page drills down into the outlook for profit margins. The left-hand chart shows the evolution of margins over time. Profit margins started 2022 either at or close to record levels across many major markets, making it challenging for further margin expansion to bolster earnings. The right-hand chart looks at the proportion of US companies planning to raise prices, and those planning to raise wages. For much of this cycle, companies were able to cope with increased wage pressures by raising prices, but margin pressures are now rising.