TEG Road Transport Price Index shows record level for courier vehicles as Christmas pushes prices up
Average prices for haulage and courier vehicles soared in December, with courier prices increasing by almost 9% in the past year.
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Trends at a glance
According to the latest TEG Price Index data, the average price-per-mile for haulage and courier vehicles climbed significantly – by 6.9 points – in December.
This 6.9-point price hike is very much in line with previous years. And with a 1.3-point year-on-year increase, the index has surpassed its December 2021 level.
The Courier Price Index continues to track above the overall index, with a 7.7-point increase from November and a huge 11.7-point YoY rise. It’s now at its highest level since the index began in January 2019.
Haulage still sits behind the overall index at 122, declining 13.2 points YoY, although there’s been an uplift of 5.1 points on November figures.
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Providing vital insight into the transport industry that the UK depends upon
The TEG Road Transport Price Index charts the price-per-mile cost for UK haulage and courier vehicles each month, which is a product of supply and demand levels affected by Brexit, Covid-19, driver shortages and other factors.
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 is an arithmetic weighted series, tracking PPM (Price per Mile) each month against a base of January 2019.
Weighting is applied according to the mileage mix from each vehicle type using the Paasche formula. This ensures the PPM of each month is compared accurately with the base month.
Data is gathered from completed transactions on the TEG platforms.
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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