Shipping costs have now risen far enough to start adding to global CPI inflation. However, so far, the boost to prices is probably only in the region of 0.1%, on average. What’s more, surging freight rates to some extent reflect a shift in demand towards heavily discounted Chinese goods. So, even if freight rates keep rising at their current pace for the next couple of months, the boost to prices will be offset somewhat by the drag from lower prices of the imported goods themselves.
Many of the charts in this special edition Global Economics Chart Pack come from our shipping dashboard, updated currently on a weekly basis. The dashboard is accessible to clients of CE Advance. If you haven’t got access to Advance, feel free to contact your sales representative or sales@capitaleconomics.com.
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