Freight vehicles PPM rate increases by 12% in 2022
The Transport Exchange Group (TEG) Road Transport Price Index shows again that the average PPM for freight transport vehicles jumped from 100.6 points to 112.2 points between March 2021 and March 2022.
A spokesman for the group said its figures reflected increases brought about by Brexit, driver shortages and high fuel prices, as well as the knock-on effects of the Ukraine invasion, noting a significant jump of 2.6 points in February to March alone.
The supply chain is coming under severe stress due to the war and rising energy costs and it's reported that some manufacturers were experiencing shortages of components produced in Russia.
Lyall Cresswell, TEG chief executive, said: “There are so many factors pushing road freight costs up right now, and the war in Ukraine is adding to an already uncertain situation.
“Unfortunately, there’s no end to the conflict in sight, so its knock-on effects will continue for some time. The cost of living won’t plummet overnight either.
“However, governments are pulling various levers to alleviate the situation and ease supply chain issues.
“How quickly we see any results is another matter, of course, and events remain unpredictable,” he added.