摘要: |
With price trends behaving unlike past history, forecasting has been tough for everyone. That said, let's review our predictions. Last January, we said the year-over-year inflation rate for trucking would peak at 14.1% in the first quarter of 2021. What happened? Inflation ran much hotter and actually hit 16.3%. Now we predict inflation will peak at 16.4% in the third quarter. Comparing the first quarter of 2021 to a year ago, surveys show truckload prices soared 28.5% and LTL tags increased 13.5%, both above expectations. In revised forecasts for the trucking industry, we see average annual inflation rates standing at 13.1% in 2022 and 2.9% in 2023.The essential shape of price trends in the time series that we track for air cargo has not changed much. Price increases so far this year, however, have been higher than expected. We thought prices for air cargo on scheduled flights would hit 9.2% in the first quarter of 2022 compared to a year ago. In fact, prices grew 10.4%. Even though the difference between expectations and reality is not as dramatic as other transportation modes, the overall high inflation environment has caused us to revise our inflation rate forecasts upward. In December last year we had forecast air cargo tags to grow 6.7% in 2022. Now we predict that prices will increase 8.3% in 2022 and will decline 0.2% in 2023. |