Average price-per-mile for freight vehicles up by 12%

The average haulage and courier price-per-mile (ppm) has increased by 12% - the 14th straight year-on-year rise, according to new industry index data.

The TEG Road Transport Price Index showed that the average ppm for freight transport vehicles increased from 100.6 points to 112.2 points between March 2021 and March 2022.

The Transport Exchange Group (TEG) said its figures reflected increases brought about by Brexit, driver shortages and high fuel prices, as well as the knock-on effects of the Ukraine invasion.

Between February and March this year the ppm increased by 2.6 points.

The TEG said this followed a pattern of previous years, with a drop between December and February and then a subsequent increase in March.

It added that the picture this time differed due to the 2022 figures being so much higher overall.

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The supply chain is coming under severe stress due to the war and rising energy costs and the TEG said some manufacturers were experiencing shortages of components produced in Russia.

Lyall Cresswell, TEG chief executive, said: “There are so many factors pushing road freight costs up right now, and the war in Ukraine is adding to an already uncertain situation.

“Unfortunately, there’s no end to the conflict in sight, so its knock-on effects will continue for some time. The cost of living won’t plummet overnight either.

“However, governments are pulling various levers to alleviate the situation and ease supply chain issues.

“How quickly we see any results is another matter, of course, and events remain unpredictable,” he added.