Inflation in April was nonexistent for consumers while pricing within the supply chain declined m/m. Despite “modest further progress” toward achieving the target of 2% inflation, the Federal Reserve held interest rates steady at this week’s meeting.
Closer to the freight sector, two pricing developments were especially notable. Pricing for freight brokers rose sharply in May while prices for commercial auto insurance premiums has accelerated. Carriers and shippers are seeing some relief, however, as diesel prices fell for a ninth straight week..