Bank of England chief economist warns against ‘complacency’ in fight against inflation – business live
Rolling coverage of the latest economic and financial news Hopes of taming inflation could be undermined by a surge in freight shipping costs. The cost of freight shipping has risen to its highest since summer 2024, when the Red Sea was effectively closed by Houthi rebel attacks, the Financial Times is reporting today. The price of a 40ft container (FEU) — an industry-standard measure — between China and the US east coast rose to $7,880 last week, up 62 per cent from a month earlier, according t
Rolling coverage of the latest economic and financial news
Hopes of taming inflation could be undermined by a surge in freight shipping costs.
The cost of freight shipping has risen to its highest since summer 2024, when the Red Sea was effectively closed by Houthi rebel attacks, the Financial Times is reporting today.
The price of a 40ft container (FEU) — an industry-standard measure — between China and the US east coast rose to $7,880 last week, up 62 per cent from a month earlier, according to shipping platform Freightos. Rates between China and the Mediterranean jumped 47 per cent to $6,431.
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