Area prices are up 0.5 percent over the month and 6.3 percent over the year

Prices in the New York-Newark-Jersey City area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), rose 0.5 percent in May, following a 0.9-percent increase in April, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the May increase primarily to higher prices for energy. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Moving Production from China and Taiwan Matters More Than Ever

Many who read this will wonder why it needs to be written. After all, wouldn’t it be obvious? But I have it on good authority from those in the supply-chain-sourcing trenches that most companies do not consider geopolitical risk when choosing countries to source from.

Trucking spot rates are way up, but so are operating expenses. What does this mean for carriers? 

“Demand is just falling back to pre-pandemic levels.” I’ve heard this rebuttal to my earlier articles about a 2022 trucking “bloodbath” (here and here) for the past week. If “demand falls back to pre-pandemic levels” turns out to be true, the situation for truckers will actually be much worse than even I have predicted. 

County average gas prices are updated daily to reflect changes in price. NEW JERSEY AVERAGE GAS PRICES

Latest Labor Market Information Update & More

Kudos to THE WALL STREET JOURNAL to put this video together!

The U.S. Import Surge Is Skipping the Train.

Shippers are increasingly choosing trucks over railroads because of supply-chain bottlenecks and a need for speed, pushing more freight onto the country’s highways.