Mohamed El-Erian said while disruption to shipments was not as severe as during Covid, he warned it would push up prices and hit economic growth. Several shipping firms have stopped vessels using the Red Sea route after attacks by Houthi rebels in Yemen. Last week, the US and UK launched military strikes against the Houthis. Dr El-Erian, president of Queens' College, Cambridge and chief economic adviser at financial services giant Allianz, told the BBC's Today programme: "Relative to what would have happened otherwise, we will see higher inflation, higher mortgage rates and lower growth. "In absolute terms, however, it is nothing…
