Biden highlights inflation as a global problem during visit to Port of Los Angeles

“We are entering the holiday and back-to-school shopping season, and retail demand is still relatively strong,” said Jonathan Gold, vice president of supply chain and customs policy at National Retail. Federation. “There are obviously concerns about the impact inflation could have, but at the moment we have yet to see that impact.”

Phil Levy, Flexport’s chief economist, said shipping times and prices had fallen somewhat and U.S. businesses were hoarding larger inventories of goods that had been in short supply during the pandemic. But what prompted the change was unclear, he said.

“Is it because people are cautious?” he said. “Is it seasonal? Is it a slowdown in consumer demand? You find yourself in the unsatisfying position of saying, “I need to see more data.” »

Mr Seroka, of the Port of Los Angeles, insists he has yet to see consumer demand fall. The port recorded its busiest first quarter in its history this year and its second busiest April. On Friday, it is due to announce new figures on the cargo it handled in May, which Mr Seroka said would be “sensational”.

The port expected an “earlier than normal peak season,” Seroka said, as volumes from China increase as lockdowns lift and retailers bring in fall produce. sooner to avoid supply chain slowdowns.

“As inventory levels improve for appliances, furniture, and perhaps fixtures, you might see some softening in those segments,” he said. “But the retail products we buy at the big box stores, home improvement stores, even our neighborhood hardware stores, continue to be extremely good.”

A downturn “wasn’t happening in my part of the country,” he said.

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