Truck rates paid by Canadian shippers increased in February, rising from a 1.6 percent drop in January, according to the Canadian General Freight Index.
The increase in the index supports claims that transportation costs in North America are starting to rise as economic recovery gains traction both in Canada and the United States.
Overall, the cost of ground transportation rose about 1.6 percent, the CGFI said.
Base truck rates in Canada rose 2.1 percent in February, excluding surcharges, the pricing index found, while fuel surcharges rose 1.6 percent from January. That put rates at essentially the same level as the last quarter of 2009, according to the index.
"These results confirm our opinion that rates are stabilizing within the marketplace as both shippers and carriers adjust to the current economic situation," said Doug Payne, President of Nulogx, a transportation management company and sponsor of the CGFI.
"We expect that cost reductions resulting from market factors will become more elusive for shippers in the coming months," Payne said.
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