A recent study, titled “What Drives U.S. Import Price Inflation?” examines the drivers of global import price inflation following the COVID-19 pandemic. The study concluded that from the first quarter of 2021 until the second quarter of 2022, almost all of the growth in U.S. import prices could be attributed to global factors. This began to change at the end of 2022, when U.S. demand factors began to drive U.S. import price inflation. In 2023, foreign suppliers to the U.S. market caught up with the demand, leading to a decline in import-price inflation. To read more about the study, go ...