Portuguese businesses admit raising prices due to attacks in Red Sea

Attacks by Houthi rebels on cargo ships in the Red Sea could see Portuguese businesses raising prices. Everything ‘hinges’ on what the next few weeks bring, Rafael Alves Rocha president of the CIP(confederation of Portuguese industries) has told Lusa. “The exponential increase in the price of freight in maritime transport will not fail to be reflected in the final price of goods, as most companies will not have the margin to absorb such increases”, he explained. The two potential impacts of this crisis will be to power inflation, he said, and make the “necessary economic recovery of the European Union and Portugal more difficult”.