China's road logistics price index surges by 3% in August 2022

06 Sep '22

1 min read

Pic: Shutterstock/ Anton_AV

The road logistics price index in China showed a 3 per cent increase in August 2022 from last year while the national economy stabilised recovery momentum and market demand recovered. The index stood at 103, which was a 0.16 per cent dip on a monthly basis, as per a survey jointly carried out by the China Federation of Logistics and Purchasing and the Guangdong Lin’an Logistics Group.

The country’s sub-index for full truckload logistics prices, which assesses bulk commodity and regional transportation, showed a figure of 103.1 at the time — a jump of 2.6 per cent year-on-year.

The growth of China’s road logistics price index is credited to macro policies that develop domestic demand, stabilise progress, and assist businesses in dealing with issues, according to Chinese media reports.

The stability or growth of price index is dependent on the positive development of the market situation and business confidence. The nation’s road logistics price index is calculated using the average price in the last week of December 2012 along with the monthly index starting point at 100.

Fibre2Fashion News Desk (NB)

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