London | Investors are underestimating the risk that surging shipping costs will push up inflation and slow the pace of interest rate cuts by the European Central Bank and Bank of England, economists have warned.
The cost of moving a 40-foot container between Asia and northern Europe at short notice has more than doubled since April from $US3223 to $US8461, according to shipping data specialists Xeneta, following an intensification of Houthi rebel attacks on ships travelling through the Red Sea to the Suez Canal.
