THE SURGE in global shipping costs will likely continue causing faster inflation in economies that are reliant on imports until the end of the year, according to the International Monetary Fund (IMF).
that are reliant on imports until the end of the year, according to the International Monetary Fund .
“In the next two weeks, we hope fuel prices subside, but the problem on supply chain logistics and the shipping will not go away,”Lockdowns in some major cities in China have also aggravated the situation, he said. Port congestion has worsened in cities such as Shenzhen and Hong Kong as Chinese authorities continue to pursue a COVID-zero strategy.cally for exporters of perishable goods like fruits.
Last week, Philippine Liner Shipping Association President Mark Matthew F. Parco has said freight fees have already increased by 25% on average.
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