A Caterpillar corporate logo is pictured on a building in Peoria, Illinois, U.S. March 19, 2017. REUTERS/Carlo Allegri

(Reuters) - Caterpillar Inc expects price increases in 2019 to be mostly offset by higher costs, Chief Financial Officer Andrew Bonfield said on a conference call with analysts on Monday.

The Deerfield, Illinois-based company’s manufacturing costs rose by 3 percentage points in the fourth quarter of 2018 over the third quarter.