Canada freight index rises 10% after 12th consecutive increase
According to the Canadian General Freight Index released Wednesday, April 25, the cost of ground transportation for Canadian shippers increased 0.8 percent in February when compared with January. After the 12th consecutive monthly increase, the CGFI is now 10 percent above the March 2011 result.
The Base Rate Index, which excludes the impact of accessorial charges assessed by carriers, increased slightly in January, and is now 0.5 percent over the January result. Since March 2011, base rates reported by the CGFI have risen 4.4 percent. Average fuel surcharges assessed by carriers have increased from 18.79 percent of base rates in March 2011 to 20.42 percent in February.
“The CGFI has now hit a 10 percent increase milestone year-over-year,” says Doug Payne, president and chief operating officer of Nulogx, which oversees the index. “Yearly base rate increases appear to be sticking, while remaining increases are being spread across fuel and accessorial charges.”