Impact of container freight rates surge on import and consumer prices 2021-2023
Due to the dramatic increase in freight rates during 2020 and 2021, import and consumer prices are projected to increase as well. While on the global level, the price for importing goods is expected to increase by 10.6 percent, different states will be affected differently. It is projected that for small island developing states, import prices will go up by more than 24 percent.
