Shipping congestion drives up inflation – IMF paper
Study of tracking data shows delays at ports are reflected in headline inflation
Headline inflation rises significantly when congestion at ports causes shipping delays, research published by the International Monetary Fund finds.
In the working paper, authors Yang Jiao, Ting Lan, Yang Liu and Xinrui Zhao use data from ships’ tracking systems to calculate the time it takes to ship goods to the US. They combine this with port-level trade data and domestic item-level price data to understand how prices fluctuate in response to shipping delays.
The paper shows US inflation rises
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