The Italian newspaper il Messaggero reports that various types of products supplied to Europe from Asia by container ships may rise in price by up to 10% due to the crisis in the Red Sea.
This «Red Sea tax» will affect a wide range of goods, including electronics, interior and fashion items, auto parts and even gas supplies from the Middle East.
The cost of shipping shipping containers from Shanghai to Genoa has already increased by 360%, reaching $6,300. These difficulties in transportation threaten the transit of liquefied natural gas from Qatar and have already led to the delay of a ship that was supposed to deliver LNG to a port in the northern Veneto region.
Research by the Italian Institute for International Policy Studies (ISPI) indicates that due to the situation in the Red Sea, the consumer price index in Europe this year may be 1.8 percentage points higher than in a non-crisis scenario.
British retailers, car factories, clothing and furniture manufacturers have already expressed concerns about price increases. Experts also warn of possible speculation on the part of manufacturers and traders, which may affect prices.
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