America’s Ports Lag Behind According To New Index, Which Means Higher Prices

America’s Ports Lag Behind According To New Index, Which Means Higher Prices

LOS ANGELES, CA - OCTOBER 16: Aerial view of containers waiting at Port of Long Beach to be loaded ... [+] onto trains and trucks on October 16, 2021 in Long Beach, California. (Photo by Qian Weizhong/VCG via Getty Images) Inflation is still pounding consumers' wallets. The Consumer Price Index is up 8. 3% over the last 12 months while the Producer Price Index—the selling prices domestic producers receive—is up 11%. Across the country, the price of gas hits a new high every day. In California the average price is above $6 per gallon. Inflation is exacerbated by supply chain issues that increase the cost of moving goods, such as clogged ports, and a new index that ranks the world's container ports shows America has some catching up to do. Privatizing U. S. ports would improve them and lower costs for consumers. The second edition of the Container Port Performance Index (CPPI) produced by the World Bank Group and S&P Global Market Intelligence notes that 35% of all sea-based global merchandise trade and more than 60% of its commercial value is moved via containers. As the world's largest economy, the United States is a big player in this shipping trade: