Cloud Costs Continue To Rise In 2024
SearchCIO, Tuesday, February 20th, 2024
Enterprises might look more closely at workload allocation and explore alternative platforms amid ongoing cloud price hikes. Storage costs are also trending upward
The cloud inflation trend looks set to persist in 2024, extending the need for cost-cutting measures that intensified last year.
U.S. government economic data and vendor research point to a pattern of rising cloud costs. The Bureau of Labor Statistics' Producer Price Index (PPI) for January, released last week, reported a 0.6% month-over-month increase in data processing and related services, a category that includes cloud computing. The year-over-year uptick stands at 3.7%. The PPI, a measure of wholesale inflation, has shown a steady increase in cloud costs since September 2022.