Surging UK Shipping Costs Threaten to Deliver a New Price Shock

The cost of shipping goods from China to the UK has surged due to ripple effects of the US trade war, threatening to push up consumer prices and complicate the Bank of England’s plan to keep nudging down interest rates.

The price of transporting a 40-foot container from China has jumped about 60% over the past three months to $3,305, according to data from shipping analytics company Xeneta. A separate weekly gauge published by maritime consultancy Drewry showed a similar rise.

The increase was fueled by demand from American businesses that have been rushing to import products before President ...