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Shipping Costs Plummet Globally | Chicago News

Shipping Costs Plummet Globally | Chicago News

Published 1 week, 3 days ago
Description

Shipping costs around the world just took a major hit—down 30% from last year—thanks to cooled demand and more ships back in service, which could mean lower prices for consumers and easier inventory management for businesses. While ocean freight is cooling, air cargo rates remain higher, but this ocean drop is a big win for the global economy as it eases inflationary pressure after years of turbulence.

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