Dr Jaydeep Mukherjee

As transportation costs increase across the supply chain, businesses eventually pass those higher expenses on to consumers. The result is 'invisible inflation' – a force that pushes up the cost of almost everything but is rarely talked about on its own.

At the centre of the recent turmoil lies the Strait of Hormuz — a narrow maritime corridor that carries nearly 20 million barrels of oil daily, roughly one-fifth of global consumption.