For-Hire Price Index Falls to Lowest Level Since 2011
OTTAWA, ON – A measure of freight rates has posted another decline, according to new figures released by Statistics Canada.
Its For-Hire Motor Carrier Freight Services Price Index decreased 0.6 percent in the third quarter, hitting 98.4, its lowest level since the fourth quarter of 2011.
The index has fallen for five consecutive quarters, reflecting the decrease in fuel prices during the same period, according to the federal government.
Both the general freight trucking component and the specialized freight trucking component posted declines of 0.8 percent and 0.3 percent, respectively.
The index also declined 3.1 percent in the third quarter compared with the same quarter of 2014.
The general freight trucking component fell 2.5 percent year-over-year while the specialized freight trucking component posted a 4.7 percent decline.
The For-hire Motor Carrier Freight Services Price Index measures changes over time in prices for the for-hire motor carrier freight services provided by general and specialized freight trucking companies.
The index for the fourth quarter of 2015 will be released on March 30, 2016.
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