THE rate for a single shipping container has skyrocketed over the last 18 months as the Covid scare disrupted supply chains and trade channels. reports CNBC News.
That surge in container rates could send consumer prices 1.5 per cent higher over the next year, according to a report from the United Nations Conference on Trade and Development (UNCTAD).
'UNCTAD's analysis shows that the current surge in container freight rates, if sustained, could increase global import price levels 11 per cent and consumer price levels by 1.5 per cent between now and 2023,' the un report said.
By country, the US would see consumer prices rise by 1.2 per cent, while China would see a 1.4 per cent increase, the report said. The analysis found that smaller countries more dependent on imports would see consumer prices rise by a much higher 7.5 per cent.
By product, electronics, furniture, and apparel would see the greatest price increases - of at least 10 per cent globally - due to supply chain distribution, UNCTAD said, noting containers account for 17 per cent of total seaborne trade volume.
SeaNews Turkey
That surge in container rates could send consumer prices 1.5 per cent higher over the next year, according to a report from the United Nations Conference on Trade and Development (UNCTAD).
'UNCTAD's analysis shows that the current surge in container freight rates, if sustained, could increase global import price levels 11 per cent and consumer price levels by 1.5 per cent between now and 2023,' the un report said.
By country, the US would see consumer prices rise by 1.2 per cent, while China would see a 1.4 per cent increase, the report said. The analysis found that smaller countries more dependent on imports would see consumer prices rise by a much higher 7.5 per cent.
By product, electronics, furniture, and apparel would see the greatest price increases - of at least 10 per cent globally - due to supply chain distribution, UNCTAD said, noting containers account for 17 per cent of total seaborne trade volume.
SeaNews Turkey
