The United Nations Conference on Trade and Development (UNCTAD) announced that we should expect consumer prices to rise 1.5% on average over the next year due to the global shipping crisis. Inflation, fuel increases, and labor shortages are among the many factors that have caused shipping costs to spike. “UNCTAD’s analysis shows that the current surge in container freight rates, if sustained, could increase global import price levels by 11% and consumer price levels by 1.5% between now and 2023,” the UN reported last week.
This will impact consumers throughout the world. The US could see a rise of 1.2%, according to the UN, while China may see a 1.4% increase. Less developed countries could see costs skyrocket by 7.5%. According to CNBC, as of late October, over 600 shipping vessels were parked outside of ports worldwide as they are unable to offload. The UNCTAD expects prices on electronics to spike 11.4%, furniture and textiles by 10.2%, rubber and plastic by 9.4%, and basic electrical equipment by 7.5%. Even pharmaceutical products are expected to increase by 7.5%. There are no signs of this crisis improving anytime soon.
- Insanity – Dr. Fauci casually admits the vaccine was a worthless venture
- DTC Settlement Alert! Money Market Instrument (MMI) Issuer Failure (AGAIN) – HSBC BANK USA NA (MMB6). Is HSBC having problems?
- HIV Testing all over the news worldwide
- “You keep saying hard times and even collapse is coming, but it hasn’t happened.” Response: “It hasn’t. To you. Yet.”
- BIG HAPPENINGS INCOMING, EXPECT MAJOR SHAKEUP IN WORLD ECONOMY
- China mobilizes for WAR 3/1/2023
- Huge Protests in Dublin Against Mass Immigration
- ChatGPT: The stock market crash will begin on February 15th, 2023
- Looks like ChatGPT is gonna need to go in the shop for repairs – guy got it to admit everything.
- You May Want To Vomit After You Read About The Unspeakable Evil That Is Happening All Over America Right Now
Views: 8