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Rising sea freight costs not a threat to inflation – Goldman
Goldman Sachs (NYSE:) has played down the impact on inflation of rising sea freight costs amid disruption to Red Sea shipping.
The investment bank pointed out costs from Asia to Europe have risen by 350% and by 100% from Asia to the US, noting some commentators and investors worry that these cost increases could meaningfully raise global goods inflation.
Source: Bloomberg, Freightos, Goldman Sachs Global Investment Research
Goldman is less concerned for for two reasons.
First, the current increase in shipping costs does not coincide with the widespread factory shutdowns and transfer-driven demand surges that helped send goods inflation soaring in the aftermath of the pandemic,…
