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Tuesday, December 6, 2022

Transportation costs accumulate a rise of 92% so far this year

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A floor of 9.5% for the General Index is estimated for November, taking into account the entry into force of the first installment of the Collective Labor Agreement 40/89 and the new increase in fuel registered in the first days of the month.

With the October record, the accumulated variation in the year reaches a record increase in transportation costs of 92.1% (January-October 2022), while the accumulated variation reaches 102.6% in the last twelve months.

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The study, carried out by the Department of Economic Studies and Costs of FADEEAC, measures 11 items that directly impact the costs of freight transport companies throughout the country, and is a reference to a large extent for setting or adjusting rates of the sector.

In the month of October, as in the previous months, increases were verified in most of the items. In the first place, the increase in Fuel stands out, reaching 7.4%, both in the wholesale and retail segments of diesel. Lubricants, for its part, exhibited an increase of 2.5%.

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Then, a new increase in Tires (5.8%) stands out in October, much lower in relation to the very high ones of the last three months, July (17.1%), August (11.8%) and September ( 12.3%). With these data, Tires already exceeds 100% increase in the course of the year (117.3%), leading the increase in operating costs.

Other items with increases were: Equipment and Insurance (7.98%), Rolling Stock (5.5%), Repairs (4.47%), General Expenses (0.83%), Tolls (49.6%). Personnel, Patents and taxes, with the exception of the Financial Cost (5.84%), did not undergo modifications in relation to the previous month.

The increase in costs is a record in twenty years: 92% in the Cost Index, 95% in Fuel and 117% in Tires.

sustained increase

In the context of the highest global inflation in 40 years, cargo transportation costs exceed retail inflation by several points over the course of the year, in a framework where both indicators face record increases in 2022.

Freight Transportation and logistics costs face this situation in a framework of high nominal inflation in the Argentine economy and due to the large increase registered in diesel in the year (+95%), in Tires (+117%) and in items related to equipment in general terms.

In the first case, it is the main input in the cost structure of the sector, since it represents between 33% and 36% in medium and long distance in general terms,

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Source: FADEEAC

November 2021-October 2022

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Source: FADEEAC

Source: Ambito

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