Stunningly higher shipping costs are yet another element of the nation’s supply chain problems. Shipping costs have skyrocketed as shortages of trucks, truck drivers, warehouse workers and others constrict the shipping pipeline and raise costs. The “Cass Freight Indexes”, produced by Cass Information Systems, are the go-to source for shipping data in the industry. The chart on the left shows that the total freight volume has returned to pre-pandemic levels, but…the chart on the right shows that the costs of shipping are higher by about 45% year over year, 62% from the same time two years ago, and 300% since 2010. And, of course, those costs are embedded into everything you buy or use. (Charts from Cass Information Systems)
Jeffrey Cerny