26 June 2024
Conflict in the Red Sea has caused shipping costs to jump three times higher than the rates seen at end of last year.

But ASB Senior economist Mark Smith says the impact on inflation will depend on how long prices remain high.

He says the prices have spiked quickly, but it's still early days.

>> More Business News

Other Business News

29 Jun: Increased freighting costs may see consumers paying higher prices at the checkout

28 Jun: Australia's channel Nine Entertainment has become the third Australian publisher to announce mass lay-offs in the past four weeks following the loss of a lucrative content deal with Meta and a slump in the advertising market

28 Jun: These financial housekeeping tasks can save you hundreds — and you can tick them off in a few hours

28 Jun: Research shows avocado demand around the world will continue to rise in the coming years

28 Jun: A bleak outlook for the economy

28 Jun: Kenya protests: Ruto pulling the finance bill is unlikely to satisfy angry young protesters – here’s why

28 Jun: Close to two tonnes of illegal drugs on their way to New Zealand, were stopped by overseas jurisdictions, in the first five months of this year

Top Stories

RUGBY
England coach Steve Borthwick acknowledges his team are firmly in a developmental phase ahead of their upcoming test series against the All Blacks More...

BUSINESS
Increased freighting costs may see consumers paying higher prices at the checkout More...

Today's News

Golf:
To the sporting history books - and a feat so rare that odds haven't even been calculated for it 8:47

Law and Order:
A woman will appear in court after being found to be driving more than 5 times over the legal breath alcohol limit 8:17

Rugby:
England coach Steve Borthwick acknowledges his team are firmly in a developmental phase ahead of their upcoming test series against the All Blacks 8:07

Environment:
A local State of Emergency remains in place for Wairoa after heavy rain and flooding this week 8:07

Law and Order:
An alleged murder involving two 'dear friends' and renowned writers has left Samoa 'reeling' in shock 7:57

Health & Safety:
A study shows over 200,000 adults struggle with eczema in New Zealand -- however treatment is limited 7:47

Business:
Increased freighting costs may see consumers paying higher prices at the checkout 7:37

Politics:
There won't be any radical changes to local body voting in Auckland for next year's election 7:27

International:
The Tour de France's first doping scandal, 100 years on 7:27

Rugby League:
A thrilling end to an NRL nail-biter in Sydney 7:17

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