The for-hire motor carrier freight services price index has maintained its upward trend since the first quarter of 2009. The price index collapsed in the middle of 2008 indicating the slow-down in the economy and the resulting lower demand for freight services.
The moderate, yet sustained, increase in the price of freight services since early 2009 suggest that the demand for such services has been increasing in Canada, albeit at a slower pace. The couriers and messengers services price index also exhibited a moderate increase of 0.2% in November over October. The year-over-year increase was 2.7%, again a moderate increase in the cost of doing business in Canada.
This should be welcome news because the price pressures are moderate in Canada and conducive for sustained economic growth.