Soaring Shipping Costs Threaten Sharp Rise in Consumer Prices

The Chartered Institute of Procurement and Supply warned consumer prices could rise sharply as shipping costs surge.
Rising transport, energy, and raw material costs are straining global supply chains.
Procurement leaders reported growing disruption concerns at a two-year high.
Shipping and logistics face the steepest increases, with many costs rising over 10%.
Computers, electrical machinery, and transport equipment already show price pressure.
CIPS said volatility may become a permanent feature of global trade.