Chinese exporters are raising prices on products ranging from swimwear to air conditioners as the Iran war pushes up oil-linked input costs, signaling an acceleration in global consumer goods inflation. Customs data showed sharp YoY price increases across more than a dozen consumer goods categories in March, ending a multi-year decline that had helped restrain global inflation. Syringes saw increases of up to 20%, while apparel made from synthetic fibers rose by low- to mid-single digit percentages. Bloomberg Economics estimates above-3% inflation in 2026 is “back in play” across the euro area, the US, and the UK Goldman Sachs expects overall Chinese export prices to turn positive as soon as April, with a 10% oil price rise typically lifting Chinese export prices by an average of 0.5 percentage points in the first year.

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