These charts show how much traffic has plunged in the Suez and Panama canals — and the potential impact on inflation

• The number of vessels passing through the Suez and Panama Canal have dropped by 50%, Apollo's chief economist noted.
• That has boosted freight costs as vessels reroute and take longer journeys.
• "The bottom line is that higher transportation costs are putting upward pressure on goods inflation."

The number of vessels passing through the Suez Canal and Panama Canal have dropped 50% from normal levels, according to Apollo Management's top economist.

And that risks triggering another run-up in inflation as the price of shipping becomes more expensive, Torsten Sløk warned in a note on Sunday.