The small island developing states (SIDS), whose merchandise imports primarily rely on maritime

transportation, will be hardest hit. They are projected to experience a cumulative increase of 24% over
the course of about a year.Consumer prices will also be significantly impacted by higher container
freight rates.Global consumer prices are anticipated to be 1.5% higher in 2023 than they would have
been without the freight rate increase if container freight rates remained at their current high
levels.Smaller economies that rely heavily on imported goods for much of their consumption are
expected to feel the impact more strongly.Consumer prices are anticipated to rise by 7.5% over time in
the Small Island Developing States (SIDS) and 2.2% in the Least Developed Countries (LDCs).Review of
Marine Transportation 2021 xviii The rise in container freight rates will have an impact on some goods
more than others.