Transport prices reach lowest level since March 2022, in the aftermath of peak season

The latest data from the TEG Index shows overall haulage and courier prices have continued to drop in February, with the most substantial decrease seen in courier vehicle prices.

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Trends at a glance

February 2024 data from the TEG Road Transport Price Index has revealed a continued downtrend in haulage and courier prices in the UK. Over the course of the month, the overall price-per-mile for haulage and courier vehicles dropped from 116.2 to 114.7 - a decrease of 1.5 points. This marks the second consecutive month of price deflation across the industry. This is typical in the aftermath of peak season, with overall prices falling in February every year since the index began.

Average road freight prices are slightly lower than in February 2023, although only by 0.1 points. It’s interesting to note these consistent year-on-year prices despite inflation.

Courier prices have decreased month-on-month, moving -3.3 points to reach 119.2. These are the lowest courier prices since April 2022. However, haulage prices have increased by 1.8 points, rising to 111.5. This is an increase of 1.6% month-on-month and 4.0% year-on-year, marking the first time haulage prices have risen in February since the index first started recording in 2019.

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Providing vital insight into the transport industry that the UK depends upon

The TEG Road Transport Price Index provides a monthly overview of the price-per-mile cost for vehicles used in the UK's haulage and courier industry. This index considers various factors, including supply and demand levels as affected by Brexit, Covid-19, driver shortages, and other economic factors.

Stay up-to-date on the latest trends and pricing in the UK's road transport industry by following the TEG Road Transport Price Index.

What is the TEG Road Transport Price Index

  • Charts the price-per-mile cost for UK haulage and courier vehicles each month
  • Uses data from over four million aggregated and anonymised transactions
  • Provides valuable insights to policymakers and industry operators alike
  • Tracks changes and highlights market trends
Industry benchmarking
Single source of truth
Quick view on market trends

The methodology

The data

The TEG Road Transport Index: Accurate Tracking of Price per Mile

The TEG Road Transport Index is a comprehensive tool that uses an arithmetic weighting system to track changes in Price per Mile (PPM) each month. The index is based on a January 2019 baseline and uses the Paasche formula to apply weighting according to the mileage mix from each vehicle type. This ensures that each month's PPM is compared accurately with the base month. Stay informed with the industry's leading metric for transportation costs.

The data is gathered, anonymised, and aggregated from over two million spot market loads transacted across the TEG platforms, before being validated, analysed and published.

PPM = (sum order values) / (sum order miles)
 
Sample size is circa 2m orders per annum across c. 8,000 participants.  

Data ID: A3, B3, C3

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Want to see more in depth data? Click below to visit the Integra Market Data Reports