There’s hopes a spike in global shipping prices won't stay around for long.

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 told Mike Hosking, 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.

LISTEN ABOVE

There’s hopes a spike in global shipping prices won't stay around for long. 
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 told Mike Hosking, 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. 
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

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