{"id":108968,"date":"2022-01-21T08:00:21","date_gmt":"2022-01-21T13:00:21","guid":{"rendered":"http:\/\/kendallharmon.net\/?p=108968"},"modified":"2022-01-21T08:36:17","modified_gmt":"2022-01-21T13:36:17","slug":"ft-gillian-tett-om-why-we-need-to-watch-trucking-costs-fully-to-understand-the-us-inflation-problem","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=108968","title":{"rendered":"(FT) Gillian Tett om why we need to watch trucking costs fully to understand the US inflation problem"},"content":{"rendered":"

When America\u2019s Bureau of Labor Statistics released data this month showing that consumer price inflation had surged to 7 per cent, many investors were shocked. No wonder: this marks the fastest jump since 1982.<\/p>\n

But here is another number that should spark concern: 17 per cent. That was the annual inflation rate for overall trucking costs last month, according to a (deeply buried) section of the bureau\u2019s data. For the long-haul trucking sector, the number was even scarier: 25 per cent.<\/p>\n

That is bad news for business \u2014 and consumers \u2014 given that almost three-quarters of freight in America is moved by trucks. Or to put it another way, if you want to understand what lies behind that scary 7 per cent inflation number, don\u2019t just track raw material, energy or cross-border shipping costs; watch those oft-ignored truckers too.<\/p>\n

Read it all<\/a>.<\/p>\n

\n

Gillian Tett: if you want to understand what lies behind that scary US 7 per cent inflation number, don\u2019t just track raw material, energy or cross-border shipping costs; watch those oft-ignored truckers too https:\/\/t.co\/pjoTTvixvr<\/a> pic.twitter.com\/NVm8tsQ0Lb<\/a><\/p>\n

— FT Opinion (@ftopinion) January 21, 2022<\/a><\/p><\/blockquote>\n