Apple CEO Tim Cook stated that the company faces inflationary pressures in an interview on Thursday with Julia Boorstin, CNBC. reported nearly $124 billion in salesIn its December quarter.

Cook stated that prices are set to reflect the actual value of products and is experiencing inflationary pressure. Cook stated, “I believe everybody is seeing inflationary pressure. “There are no other ways than that.”

As the Biden administration is in full swing, this observation came from the CEO of America’s most important company. Federal Reserve grapple with questionsInformation about how to control high inflation and raise interest rates.

Consumer price index is a metric that measures price changes across a range of consumer goods. rose 7% in DecemberIts fastest annual rate in almost 40 years, compared to a year ago.

Cook spoke to analysts on an earnings conference call.

We are seeing inflation, and that has been factored in to our gross margins and opex. [Apple CFO] Luca [Maestri]Cook stated that they had previously reviewed the matter with them. As I mentioned in a prior call, logistic costs are very high because of how much it takes to move things.

Cook stated that he hopes the higher costs will be temporary.

Cook shared that he hoped that at most a small portion of the temporary effects would be temporary, however, that the world is changing rapidly and it will all change again,” Cook explained.

Apple’s business is not being affected by inflation. Apple reported growing gross margins during the December quarter. Apple also hasn’t raised prices due to the rise in inflation in the United States. Cook did not rule out price hikes in either his interview on CNBC or Apple’s earnings call.

Cook stated that he expected supply chain restrictions, which contribute to inflation to improve for Apple over the next few months.

September Nikkei Asia reportedTSMC was Apple’s chip maker. It appeared that chip prices had risen and technology companies might decide to pass on the increase to their customers. Cook claimed that “we do okay on the cutting edge stuff”, referring to the supply of processors made by TSMC.

Apple does not often increase prices after the release of products, but it may do so when there are economic factors in the region. Apple, for example, raised the prices of its Apple Store in Turkey last year as the value of the Turkish lira and the inflation there. hit a two-decade high.

Apple does occasionally make mistakes. raises prices compared to last year’s modelsWhen introducing new iPhones or other devices in fall.