By
Rob Almond is the CEO of NEST, a pioneer of Integrated Facilities Management (IFM) in North America.getty
Inflation is a complex phenomenon influenced by many factors, from global supply chain disruptions to labor shortages. However, another often overlooked contributor is subtly driving prices higher across various sectors: fees.
These fees can take many forms—service fees, convenience fees, processing fees—and while they may seem insignificant in isolation, their cumulative effect can be profound, especially when considered across an entire industry or economy.
Take the facilities management industry, for example, where I operate daily. We see how hidden fees accumulate and significantly increase operational costs. From contract management fees to technology charges, these can sneak into agreements and strain company budgets.
Such fees are often passed down the supply chain, ultimately affecting pricing strategies and inflating costs for consumers. In retail, we’ve seen similar impacts, where incremental fees are contributing to the rising cost of goods and services.
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