The TEG index rose in August 2024, highlighting a marked year-on-year increase. Haulage prices, in particular, experienced a significant increase.
Index trends at a glance
The TEG Road Transport Index experienced a notable three-point rise in August, moving from a baseline of 123.7 to 126.7 in the space of just 31 days. The 2.24% increase contrasts with August 2023, when the index fell.
The haulage sector saw a particularly strong rise, surging to a final index value of 125.2. Month-on-month, that equates to a 4.2-point (3.47%) increase. And year-on-year, haulage prices were 10.9 points (9.53%) higher than figures seen in August 2023. According to Richard Smith, MD of RHA, haulage costs have risen by 10% over the last 12 months, which may account for much of the annual price change.
Meanwhile, the courier index also rose. It grew by 1.8 points in August, to 128.0; a 1.42% increase. Annually, the courier index was up a full 4 points (3.22%).
While respective price rises differed, all index markers were up in August – an about turn not seen since September 2023.
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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 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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