{"id":557440,"date":"2021-09-19T04:00:06","date_gmt":"2021-09-19T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/shipping-is-doing-its-bit-to-force-up-inflation-globally\/"},"modified":"2021-09-19T04:00:06","modified_gmt":"2021-09-19T04:00:06","slug":"shipping-is-doing-its-bit-to-force-up-inflation-globally","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/shipping-is-doing-its-bit-to-force-up-inflation-globally\/","title":{"rendered":"Shipping is doing its bit to force up inflation globally"},"content":{"rendered":"

<\/a> A covid-induced surge in shipping costs is the latest flashpoint for inflation: <\/strong>With an increase in gas prices, a shortage of truck drivers, and a dearth of shipping containers, elevated freight costs globally are expected to continue into 2023, translating into higher price tags for everyday products, the Wall Street Journal<\/a> reports. Spot container rates for Asia to US West Coast shipping increased fivefold y-o-y in early September compared to 2020, and were 14 times higher than in 2019. End consumers can expect these higher transport costs to trickle down to the final product prices, further driving up inflation. One Moody\u2019s analyst suggested that transport costs could be responsible for as much as 10% of price inflation over the past year.<\/p>\n

A commodities supercycle? Tell that to iron ore, which has just suffered its worst week <\/strong>since the global financial crisis<\/strong>, according to the Financial Times<\/a>. Prices were down 22% last week to USD 100.80 per tonne, continuing its spectacular fall from its record highs of more than USD 230 in May. What\u2019s to blame? Mainly Chinese curbs on steel production, analysts say.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

10,997<\/p>\n<\/td>\n

\n

-1.4% (YTD: +1.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

8.25% deposit<\/p>\n<\/td>\n

\n

9.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,422<\/p>\n<\/td>\n

\n

+0.1% (YTD: +31.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

7,883<\/p>\n<\/td>\n

\n

+0.8% (YTD: +56.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

2,901<\/p>\n<\/td>\n

\n

+0.6% (YTD: +16.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,432<\/p>\n<\/td>\n

\n

-0.9% (YTD: +18.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE <\/strong>1<\/strong>00<\/strong><\/p>\n<\/td>\n

\n

6,963<\/p>\n<\/td>\n

\n

-0.9% (YTD: +7.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 75.34<\/p>\n<\/td>\n

\n

-0.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 5.11<\/p>\n<\/td>\n

\n

-4.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,751.40<\/p>\n<\/td>\n

\n

-0.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 47,987<\/p>\n<\/td>\n

\n

+1.7% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 fell 1.4% at Thursday\u2019s close<\/strong> on turnover of EGP 1.94 bn (20.1% above the 90-day average). Foreign investors were net sellers. The index is up 1.4% YTD.<\/p>\n

In the green: <\/strong>Speed Medical (+5.7%), Ezz Steel (+2.2%) and Raya Holding (+2.1%).<\/p>\n

In the red: <\/strong>TMG Holding (-4.2%), AMOC (-4.1%) and Ibnsina Pharma (-3.7%).<\/p>\n","protected":false},"excerpt":{"rendered":"

A covid-induced surge in shipping costs is the latest flashpoint for inflation: With an increase in gas prices, a shortage of truck drivers, and a dearth of shipping containers, elevated freight costs globally are expected to continue into 2023, translating into higher price tags for everyday products, the Wall Street Journal reports. Spot container rates […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[344,72,119,122,897],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557440","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-cryptocurrency","tag-enterpriseam","tag-financial-markets","tag-planet-finance","tag-wall-street","wpautop","entry"],"acf":{"mongo_id":"d639c7cf-8f3a-4617-a18f-614fbdfb2975","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[557415],"teaser":"","voice_url":""},"yoast_head":"\nShipping is doing its bit to force up inflation globally - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/shipping-is-doing-its-bit-to-force-up-inflation-globally\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shipping is doing its bit to force up inflation globally\" \/>\n<meta property=\"og:description\" content=\"A covid-induced surge in shipping costs is the latest flashpoint for inflation: With an increase in gas prices, a shortage of truck drivers, and a dearth of shipping containers, elevated freight costs globally are expected to continue into 2023, translating into higher price tags for everyday products, the Wall Street Journal reports. 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That\u2019s the headline message from two recent reports from the United Nations Conference on Trade and Development (UNCTAD) and the Organization for Economic Cooperation and\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/571.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548518,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/inflation-hits-new-three-year-high-in-july\/","url_meta":{"origin":557440,"position":1},"title":"Inflation hits new three-year high in July","author":"enterpriseam admin","date":"11 August 2022","format":false,"excerpt":"Inflation resumed its upward trend in July, reaching a fresh three-year high on the back of higher food and fuel prices, according to official figures from state statistics agency Capmas (pdf). 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Prices are currently almost 80% higher than their low point in May 2020 \u2014 when sales to the\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":674298,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/27\/cooling-us-inflation-makes-the-case-for-fed-rate-cuts\/","url_meta":{"origin":557440,"position":3},"title":"Cooling US inflation makes the case for Fed rate cuts","author":"enterpriseam admin","date":"27 October 2025","format":false,"excerpt":"Inflation eases on housing, but tariff pressures and government shutdown cloud the outlook","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1388.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550015,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/egypt-inflation-hits-new-four-year-high\/","url_meta":{"origin":557440,"position":4},"title":"Egypt inflation hits new four-year high","author":"enterpriseam admin","date":"11 October 2022","format":false,"excerpt":"Inflation accelerated again in September as price shocks continue to linger, according to CAPMAS figures (pdf). Urban consumer price inflation rose to 15.0% y-o-y in September, up from 14.6 % last month, amid an ongoing surge in living costs fuelled by the war in Ukraine and a weaker EGP. This\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/183.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644806,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/04\/private-sector-hikes-prices-in-response-to-the-fuel-subsidy-cuts\/","url_meta":{"origin":557440,"position":5},"title":"Private sector hikes prices in response to the fuel subsidy cuts","author":"enterpriseam admin","date":"4 July 2017","format":false,"excerpt":"Private sector hikes prices in response to the fuel subsidy cuts: Food producers are days away from announcing new prices that are expected to be 10-15% higher, industry executives tell Al Borsa. The move comes as part of a series of measures companies are taking to offset production costs as\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=557440"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557440\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557415"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557440"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557440"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}