Red Sea crisis could jeopardize inflation fight as shipping costs spike globally

In this article HLAG-DE MAERSK.B-DK Follow your favorite stocks CREATE FREE ACCOUNT A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty Images U.S. shipping costs are spiking as attacks in the Red Sea disrupt global trade, raising fears that inflation might pick up again if the disruption persists. The diversion of container ships from the Suez Canal around the Cape of Good Hope in South Africa is having a "global contagion" effect on freight rates, according to a S&P Global report published this week. Trade between Asia and Europe has faced the largest impact with the…