Bloomberg/Cindy Wang and Enda Curran/8-25-2021
“Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding wars to get space on vessels, pushing freight rates to records and prompting some exporters to raise prices or simply cancel shipments altogether.”
USAGOLD note: This is how inflation heats up beyond the control of central banks: Real competition to secure available supplies bids up prices.
