The Cowen/AFS Freight Index, which predicts ground transportation costs by analyzing data across transportation modes, will grow to a record-high 27.1% over 2018 baselines in Q2, up from 25.2% in Q1.
The Freight Index projection for Q2, issued this month by 3PL provider AFS Logistics and Cowen Research, is expected to plateau at 27% as the pace of rate-per-mile increases slows down and market forces, including driver shortages and higher labor costs, begin to soften truckload demand, AFS said.
AFS said the ground parcel index has been driven to an all-time high by skyrocketing fuel costs and carriers leveraging fuel surcharges that are boosting per-package costs.
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