Industrial Sector Cost Report – August 2022

Container truck in ship port Logistics.

Industrial Sector Cost Report – August 2022

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August 2022

What’s happening this month in the industrial sector? Read on, as the GCP team examines recent price movements, economic trends and news, from around North America. 


Included below are a few points highlighted from the report,

  • Raw Material Pricing: Prices increased for the 26th consecutive month, but at a fraction of the pace compared to previous months.
  • Ocean Freight Rates: Container prices have fallen over 50% since the start of the year but still remain higher than pre-pandemic levels.
  • Trucking Costs: Excluding fuel, spot rates have decreased 30%, but remain above pre-pandemic levels.
  • Port Congestions: Another month of high volume as ports remain overwhelmed in the U.S. but the situation is improving.
  • Labor Costs/Shortages: Job openings and a lack of skilled labor continues to hamper small business.
  • Energy Prices: Oil and natural gas prices are moving in opposite directions as supply and demand factors create uncertainty in both markets.
  • U.S./China Relations (tariffs): Nancy Pelosi’s visit to Taiwan places further strain on the U.S. China relationship as President Biden mulls China tariff decision.
  • Inflation: Is the inflation scare over? Not by a long shot. 

For a deeper look into all these topics and more open the full report in the link below.

This months report is 2904 words, 18 minute read.


Click Here to View The Full Report