Inflation focus hits 10-year high as import prices, shipping costs soar

Corp - Shipping 939 Earnings 668 Global 1372 Info Tech - Tech Hardware 737 Materials - Metals/Mining 709 Mode - Containerized 1426 Quote Watch 439 Theme - Rates 219 U.S. 5211

U.S. import prices have continued their rapid ascent, with inflation excluding food and fuels reaching 6.4% year over year in June and 6.1% when comparing to June 2019. Prices of key materials have continued to increase as have shipping costs. Average U.S.-inbound container shipping rates reached $5,857 / FEU in June compared to $4,154 / FEU in March. That meant the total cost of importing containers to the U.S., before surcharges, reached $8.32 billion in June, up by 207.4% from a year earlier and rising by 32.2% compared to March. Companies are likely focusing on short-term, inflation-...

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