Article

I’m gettin’ nuttin’ for Christmas

2 December 2021
Benjamin Jones
Benjamin Jones
Director of Macro Research, Multi-Asset Strategies (MAS) UK team 
I’m gettin’ nuttin’ for Christmas
Madrid, Spain

As the old song goes:

‘I’m gettin’ nuttin’ for Christmas, Mommy and Daddy are mad. I’m gettin’ nuttin’ for Christmas… costs too much to ship an iPad’.                

Charts showing parabolic moves in input prices and transportation costs abound and the obvious question to ask is – will those prices be passed onto consumers?

There are tentative signs that shipping costs might be falling, but companies are still bemoaning supply chain issues and high prices when they report earnings.

It could be an expensive Christmas for Santa Claus. 

Figure 1. Have shipping costs peaked?

Source: Bloomberg, WCI Shanghai to Los Angeles container freight benchmark rate per 40-foot box (USD), 30 October 2021.

Count down to Christmas with our festive charts as we publish a new piece each day. Recognise the images that feature on our calendar windows? Each corresponds to a city where an Invesco office is based.

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