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>This seems like a non-story. Rates were insane due to Covid. Things are now normalizing. The rate is still incredibly expensive and should fall more.

Things normalizing are important. Many things are still out of whack. Inflation is still 9%. Demand is decreasing. Why is that a "non-story"? It seems to me it's interesting in both directions.

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It is very interesting on the single dimension of shipping rates as well as the obvious implications for the supply chain, consumer demand, and what it means to the #1 economic number at the moment inflation.

> Rates were insane due to Covid

No they were insane due to the post covid boom, which also resulted in 9% inflation & write down the biggest number you can think of and we will pay it tech salaries.

Agree with your larger point, but prices actually were flat or slightly down in July vs June, which is deflation (they were up year over year, but that’s due to inflation in preceding months).

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