Starting in January 2024, attacks on ships by Houthis in Yemen have caused shipping routes between Asia and Europe to bypass the Red Sea/Suez Canal, increasing transit times and fuel costs by 40% and driving up shipping rates. As happened previously in 2021, a rise in shipping rates is expected to contribute to a bump in inflation data, although the impact may not be evident until after the November election. CLICK HERE
Rising Shipping Costs: The Hidden Trigger for the Next Inflation Surge?
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