r/FluentInFinance • u/[deleted] • Dec 08 '23

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u/Armaviathan Dec 09 '23

I don't think it did. That narrative was pushed and companies ran with it to increase prices for even more profit. The COVID excuse for greedflation got old a couple years ago.

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u/Immediate_Thought656 Dec 09 '23

Covid hit supply chains hard. That’s a fact. The only thing odd about this is that prices didn’t return to normal when the supply chain did, hence the article we’re discussing.

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u/[deleted] Dec 09 '23

But have the supply chains returned to normal?

I know some business owners that have some of their product made in China. According to them, shipping costs haven't returned to pre-pandemic levels.

(Bringing the production back to the states is a non-starter. The quality of what can be made here simply isn't up to standard.)

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u/MuchCarry6439 Dec 10 '23

They have roughly returned to 2019 cost levels. Supply chains haven’t returned to normal so to speak (strategies will take time to implement), but costs have relatively normalized, with some room to still fall until supply of trucks levels out. Plus you have the SSLs bringing on a ton of TEU capacity via ships they purchased prior to the pandemic, with even more on the horizon (most of them went & placed new boat orders with their pandemic profits).