Index shows Canadian rates increased for 12th straight month
TORONTO, Ont. — The Canadian General Freight Index (CGFI) indicated the cost of ground transportation for Canadian shippers rose 0.8% in February, when compared to January.
That marks the twelfth consecutive month of increases, with the index now 10% above March 2011 levels.
The Base Rate Index, which excludes accessorial charges such as fuel surcharges, rose slightly in February and is now 0.5% higher than January. Base rates have increased 4.4% since March 2011.
Average fuel surcharges assessed by carriers rose from 18.79% of base rate in March 2011 to 20.42% of base rate in February 2012.
“The CGFI has now hit a 10% increase milestone year-over-year,” said Doug Payne, president and COO of Nulogx, which compiles the index. “Yearly base rate increases appear to be sticking, while remaining increases are being spread across fuel and accessorial charges.”
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