Inflation Shows Signs of Easing – Will it Last?
For the first time in months, we are seeing highly encouraging signs from a number of angles that inflationary pressures may finally be easing. Gas prices, which soared to all-time highs of over $5 per gallon in June, have regressed to $4 per gallon . This decrease in gas prices has instigated a major cooling in the cost of shipping . Importers are now paying $6,632 to move a container from China to the West Coast, which is down from the roughly $18,000 that was being paid to move a container at this time last year. Eytan Buchman, the chief marketing officer for Freightos, said in an interview with The New York Times : “Broadly, it is clear that we are on a vector of normalization.” Moreover, eCommerce prices have posted their first monthly decline since June of 2020, marking the end of 25 consecutive months of rising prices. The 1 percent price fall in July was led in large part by a 9.3 percent year-over-year decli...