JP Morgan is wary of the impact of terrorist attacks in the Red Sea on the price of shipping and subsequently on inflation.JPM say that the "renewed increases in global shipping costs may actually add to consumer price inflation over the next several months".With implications for inflation globally:"would reinforce our expectation for progress on reducing global core CPI inflation to stall this year”JPM cite the 30% drop in ship traffic through the Suez Canal since the middle of last month. The added 10+ days of thus transiting around Africa impacts around 20% of global container volumes that normally head through the Canal.***Earlier:Houthi terrorists launch biggest attack to date on mercha
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