November’s haulage price index is up 10.4 points, compared to a year ago, whilst courier rates remained almost unchanged over the year, according to the latest TEG Road Transport Index.
The research revealed that on a month-to-month basis there was little movement in haulage and courier prices, continuing a trend evidenced in recent years
The TEG Road Transport Index fell by 0.1 point to 126.6 in November 2024, representing a 0.08% drop, a relatively minor month-on-month fall.
Year-on-year, however, the overall index was 4.4 points higher than in November 2023.
Meanwhile, the haulage sector saw a minor 0.4-point index rise to 125.8, representing 0.32% growth in November.
However, compared to a year ago, November’s haulage price index is up 10.4 points.
Conversely, the courier sector saw a minor price fall during the year. The index dropped 0.5 points (0.39%) to 127.3. Given the courier index was 128.0 in November 2023, annual movement was also muted last month.
The report said: “The shifts mirror what the transport sector has come to expect: In recent years, the TEG index has seen little movement during November.”
It concluded: “November saw little movement in the overall TEG index, with stable haulage and courier prices underlying contributors. While stable prices could signal level demand, returning consumer confidence indicates a strong December lies ahead.
“Fuel prices have increased a little, however we’re yet to understand whether this is a one-off for November, given the downward trend we’ve welcomed since early summer.
“The economy remains relatively stable and, although geopolitical risks loom, FedEx’s research suggests there could be a bumper number of deliveries to make before 2024 closes out.”
Kirsten Tisdale, senior logistics and supply chain consultant at analysts Aricia, commented: “November is an interesting month as far as the TEG Road Transport Price Indices are concerned.
“There haven’t been any wild increases or decreases in either courier or haulier spot rates when moving from October to November since the TEG indices started, but it’s not a predictable month either.
“Or, at least, it hasn’t been so far, with the changing date of Black Friday (which fell late in the month this year) overlaid by a variety of wider geopolitical and other events that have impacted logistics activity.”
