Supply-Chain Stress That Peaked in Covid Heads Higher Again

(Bloomberg) — The impact of the energy crisis on the global economy in recent months is showing up in gauges of supply-chain stress that flashed red during the pandemic, adding to reasons for central banks to be on guard for a recurrence of high inflation.

The following dashboard of logistics activity shows that some gauges are at their highest since the 2020-23 period, when economies locked down, shortages emerged and shipping snarls persisted.

While the indexes are still far from their Covid highs, they reflect disruptions to global trade from the Iran war that bear some similarities to what happened back